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Jun 17 2020, 09:20 IST/BST
AIB Group
AT1 issue attracts strong demand and lowers CET1 requirement
DAVY VIEW
AIB’s new AT1 issue yesterday (June 16th) benefitted from a supportive market as well as an improving domestic backdrop (see our report this morning). Strong investor demand helped to significantly tighten pricing and increase the issue size, which helps optimise AIB’s capital structure. Despite the recent uptick in equity market sentiment for Irish banks, equity market support still lags that of the credit market - which was also recently evidenced by BOI’s ability to re-open the € AT1 market.
