By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., March 22 – AIB Group plc priced $1 billion of 5.871% fixed/floating notes due 2035 on Thursday, according to a market source.
After bearing interest at the initial rate, the rate will reset to SOFR plus 191 basis points.
The notes priced with a spread of Treasuries plus 160 bps. Initial price talk was in the Treasuries plus 190 bps area.
The notes come with 10 years of call protection.
Goodbody, BofA Securities, Inc., Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners.
AIB Group is a banking and financial services company based in Dublin.
| Issuer: | AIB Group plc
|
| Amount: | $1 billion
|
| Issue: | Fixed/floating-rate notes
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| Maturity: | March 28, 2035
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| Bookrunners: | Goodbody, BofA Securities, Inc., Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC
|
| Coupon: | 5.871% initial rate; resets to SOFR plus 191 bps
|
| Spread: | Treasuries plus 160 bps
|
| Call features: | After 10 years
|
| Pricing date: | March 21
|
| Price talk: | Treasuries plus 190 bps area
|
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