AIB raises €500m through five-year bond in third move since November

AIB raised €500m through a five-year covered bond at roughly an interest rate of 3.2% — the third time it has tapped the markets since last November.

The deal was placed across roughly 90 international investors, said the 99.8% State-owned bank. AIB was forced into the Government fold after shipping billions of property-related losses since the market collapsed in 2008.

Last November’s €500m covered bond issue was the first time the bank accessed private funding in three years.