AIB, PTSB raise €1bn from investors

The Irish banking sector took another step towards normalisation yesterday with State- owned AIB and Permanent TSB raising €1bn between them.

AIB raised €500m through a three-year senior unsecured bond. The transaction was arranged by Deutsche Bank, Goldman Sachs, Nomura, JP Morgan and Morgan Stanley and attracted €3.6bn of total demand from a diverse range of international investors.

Final pricing was at +235bps over mid swaps with a final order book at these pricing levels of €3.19bn, in excess of six times over-subscribed, said AIB in a statement.