By Rebecca Melvin
New York, March 5 – Bank of Ireland Group plc priced €750 million of 0.375% green notes due 2027 (expected ratings: Baa2/BBB-/BBB) at 99.618 to yield 0.45% or a spread of 77 basis points over mid-swaps, according to a market source.
The notes are non-callable for five years.
Pricing was guided to 80 bps area over mid-swaps from initial talk of 100 bps area over mid-swaps.
The final order book for the Regulation S deal was in excess of €2.25 billion.
J.P. Morgan was structuring agent and a joint bookrunner along with BNP Paribas, HSBC, NatWest Markets and Societe Generale also as joint bookrunners.
The commercial bank is based in Dublin.
| Issuer: | Bank of Ireland Group plc
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| Amount: | €750 million
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| Maturity: | March 10, 2027
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| Description: | Green notes
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| Bookrunners: | J.P. Morgan, BNP Paribas, HSBC, NatWest Markets and Societe Generale
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| Coupon: | 0.375%
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| Price: | 99.2618
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| Yield: | 0.45%
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| Spread: | Mid-swaps plus 77 bps
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| Trade date: | March 3
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| Settlement: | March 10
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| Distribution: | Regulation S
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| Talk: | Guided to 80 bps area over mid-swaps from initial talk of 100 bps area over mid-swaps
|
| Ratings: | Moody’s: Baa2
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| S&P: BBB-
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| Fitch: BBB
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