Chicago, Jan. 9 – Bank of Ireland Group plc priced €750 million of 4.875% 5.5-year bonds at 99.552 to yield 4.996% (A3/BBB-/BBB), according to information from a sellside market source.
The notes priced at mid-swaps plus 205 basis points. Guidance moved into the 215 bps area after starting the morning in the 245 bps area.
Bank of Ireland will have an opportunity to call the notes at par on July 16, 2027. If the notes are not redeemed, the rate will reset to mid-swaps plus 205 bps.
BNP Paribas (billing and delivery), Davy, Deutsche Bank, NatWest Markets, Nomura and Societe Generale are the joint bookrunners for the Regulation S issue.
Books were in excess of €5.5 billion.
Proceeds will be used in accordance with the bank’s green bond framework.
The issuer is based in Dublin.
| Issuer: | Bank of Ireland Group plc
|
| Amount: | €750 million
|
| Issue: | Green notes
|
| Maturity: | July 16, 2028
|
| Bookrunners: | BNP Paribas (billing and delivery), Davy, Deutsche Bank, NatWest Markets, Nomura and Societe Generale
|
| Coupon: | 4.875% initial rate; resets to mid-swaps plus 205 bps on July 16, 2027
|
| Price: | 99.552
|
| Yield: | 4.996%
|
| Spread: | Mid-swaps plus 205 bps
|
| Call features: | At par on July 16, 2027
|
| Trade date: | Jan. 9
|
| Settlement date: | Jan. 16
|
| Ratings: | Moody’s: A3
|
| S&P: BBB-
|
| Fitch: BBB
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 245 bps area
|
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