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Dublin: 3°C Saturday 5 December 2020

Another day another bond sale, this time €750m from Bank of Ireland

The bonds have a maturity of five years.

Image: Sam Boal/Photocall Ireland

FOLLOWING ON FROM Ireland’s €3.75 billion bond sale yesterday, Bank of Ireland launched its own sale today and raised €750 million from investors.

The sale was five times oversubscribed according to Bank of Ireland who say that they took orders worth €3.75 billion.

The bonds have a five-year maturity and the average yield on the transaction was 3.337 per cent.

The issuance was sold to 240 different investors with the bank saying that 97 per cent of the trade was from international investors.

Lead investment banks on the transaction were Citibank, Deutsche Bank, Morgan Stanley, Nomura and Royal Bank of Scotland.

A statement from Bank of Ireland described the sale as “highly successful”.

“Today’s transaction strongly underlines Bank of Ireland’s on-going ability to access capital markets at improving prices since returning to the public bond markets with a range of covered bond trades,” according to a spokesperson.

Today’s sales comes a month after the bank raised almost €2 billion as part of plans to begin repaying the State €1.8 billion of preference shares bought by the government.

Read: Ireland’s post-bailout return to the bond markets raised €3.75 billion >

Read: Bank of Ireland raises funds to begin repaying over €2 billion to the State >

About the author:

Rónán Duffy

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