Monday 20 November 2017

BOI to sell seven-year covered bond

Bank Of Ireland on College Green, Dublin
Bank Of Ireland on College Green, Dublin
Thomas Molloy

Thomas Molloy

Bank of Ireland is preparing to sell a seven-year covered bond - the longest public bond offering from an Irish bank since the financial crisis began.

The plans are another sign of renewed appetite for Irish borrowing as the country prepares to exit the bailout.

Citi, Danske, Deutsche Bank, Nomura and RBS have been hired as lead managers for the €500m no-grow issue, which will be priced in the near future.

The deal is expected to be rated Baa3 by Moody's. The rating agency recently raised its rating for Irish government bonds

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