AIB’s €500m bond 5 times oversubscribed

A new €500m bond issued by AIB was five times oversubscribed as more than 100 international investors sought to invest in Ireland’s state-owned bank.

The bond was issued through AIB’s subsidiary, AIB Mortgage Bank, as part of the company’s €20bn Mortgage Covered Securities Programme.

The bonds cover a seven-year deal and was priced at a spread over mid-swaps of 95 basis points at an absolute yield level of 2.33%.