AIB raises €500m for the second time in three months
ALLIED Irish Bank returned to the markets today, raising €500m for the second time in three months.
The bank said it raised €500m in a three-and-a-half year secured covered bond issue.
The bonds were sold at an interest rate of around 2.3pc, while the auction was oversubscribed by more than four times, with €2.2bn of orders lodged. The bank said that demand came from over 20 countries with over 99pc of the orders placed outside Ireland. The wide geography of investor “reflected a well placed and diversified profile”, the lender said.
“This transaction demonstrates the continued progress of AIB's strategy of engaging with the market in a balanced and measured manner,” the bank said in a stock exchange statement.
Shares in the bank were flat at 9c by mid afternoon.