Ireland
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AIB Group has wasted little time in accessing the debt markets for subordinated capital. It launched a tier two bond this week, little over a month after selling an additional tier one (AT1) bond, adding to its minimum requirements for own funds and eligible liabilities (MREL). -
Radius Housing has become the first housing association from Northern Ireland to raise US private placements, selling £105m to fund social housing developments.
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The European Bank for Reconstruction and Development and Ireland faced off in the euro green bond market on Thursday.
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The European Financial Stability Facility (EFSF) is preparing its first benchmark of the fourth quarter and Ireland has picked the banks to lead the first tap of its sovereign green bond.
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Bank capital securities have enjoyed a tremendous performance in 2019, leaving specialist fund managers a little nervous about protecting their returns as the year draws to a close.
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Bank of Ireland was more than three times subscribed for a €300m tier two bond this week, nailing its second attempt at the deal after returning to the market with a wider spread for investors.
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Belgium and Ireland are looking at increasing the size of their green bonds in the fourth quarter. For Ireland it would be the first tap of its green bond since it was issued in October 2018.
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Allied Irish Banks was met with a strong response for an additional tier one (AT1) in the euro market on Wednesday, just a month after its national peer Bank of Ireland had to pull a subordinated bond amid fears about the impact of the UK’s departure from the EU.
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AIB Group is set to sell a new additional tier one (AT1) with a six month call period ahead of the first payment reset date. This feature was pioneered by Nationwide Building Society, and looks as though it could become the norm in the AT1 market.
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AIB Group has become the first bank in Ireland to develop a green bond framework and has mandated ING for a roadshow to promote it. The framework aims to support lending for energy-efficient buildings and other projects that promote the transition to a low carbon economy.
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Permanent TSB raised €300m with its first senior issuance for the minimum requirements for own funds and eligible liabilities (MREL) on Thursday, arriving in the market two weeks after its peer Bank of Ireland had to pull a deal because of Brexit-induced volatility.
