New Issue: Bank of Ireland prices $500 million of 4.5% notes due 2023 at 160 bps over Treasuries

By Cristal Cody

Tupelo, Miss., Sept. 19 – Bank of Ireland Group plc sold $500 million of 4.5% five-year senior notes (Baa3/BBB-) on Tuesday at a spread of 160 basis points over Treasuries, according to a market source.

The notes were initially talked to price in the Treasuries plus 180 bps area.

BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc. and UBS Securities LLC were the bookrunners.

The commercial bank is based in Dublin.

Issuers:	Bank of Ireland Group plc
Amount:	$500 million
Maturity:	Nov. 25, 2023
Description:	Senior notes
Bookrunners:	BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc. and UBS Securities LLC
Coupon:	4.5%
Spread:	Treasuries plus 160 bps
Trade date:	Sept. 18
Ratings:	Moody’s: Baa3
	S&P: BBB-
Price guidance:	Treasuries plus 180 bps area

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