By William Gullotti and Cristal Cody
Buffalo, N.Y., Oct. 7 – AIB Group plc priced $750 million of 7.583% fixed-to-floating rate notes due 2026 on Thursday, according to information from a market source.
The notes priced at Treasuries plus 335 basis points, on top of initial talk in the 335 bps area.
The notes are non-callable for the first three years.
Interest will reset to SOFR plus 354.6 bps at the beginning of the floating-rate period.
Bookrunners are BofA, Citigroup, Goldman Sachs, Goodbody Stockbrokers UC, JPMorgan and Morgan Stanley.
AIB Group is a banking and financial services company based in Dublin.
| Issuer: | AIB Group plc
|
| Amount: | $750 million
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| Issue: | Fixed-to-floating rate notes
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| Maturity: | Oct. 14, 2026
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| Bookrunners: | BofA, Citigroup, Goldman Sachs, Goodbody Stockbrokers UC, JPMorgan and Morgan Stanley
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| Coupon: | 7.583%, resets to SOFR plus 354.6 bps
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| Spread: | Treasuries plus 335 bps
|
| Call features: | Non-callable for three years
|
| Trade date: | Oct. 6
|
| Price talk: | Treasuries plus 335 bps area
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