State-owned AIB set to go to market with senior unsecured bond issue

AIB is likely to go to the market today with its first senior unsecured bond issue since 2008.

Sources say the 99.8% state-owned bank is likely to raise €500m. Moreover, the paper will have a yield of 3% and a maturity of three years.

The Ba3/BB/BBB-rated issuer has mandated Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley and Nomura to arrange an investor update yesterday ahead of the potential deal.