IFLR1000

Bank of Ireland €750 million 7.375% AT1 CoCo bond issue

16/6/2015
Convertible and hybrid securities, Investment grade bond/note issue
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€ 750 million

$ 802.963 million

Completed

16/6/2015

Overview:

  • Bank of Ireland has raised €750 million through the issue of an AT1 contingent convertible (CoCo) bond.
  • The 7.375% bond was seven times oversubscribed.
  • Deutsche Bank, UBS, Bank of America Merrill Lynch, Credit Suisse, Davy and Morgan Stanley acted as joint lead managers)
  • The bank becomes only the second Irish finance institution to date to issue CoCos after permanent tsb.

Sam Duke - Editor

Jurisdiction:

Ireland

Deal types:

Convertible and hybrid securities
Investment grade bond/note issue

Practice area:

Capital markets : Debt

Industry sector:

Banking

Firms:
A&L Goodbody

Party: Deutsche Bank AG Na ON (Joint lead manager)

Party: UBS (Joint lead manager)

Party: Bank of America Merrill Lynch (Joint lead manager)

Party: Credit Suisse (Joint lead manager)

Party: J&E Davy (Joint lead manager)

Party: Morgan Stanley (Joint lead manager)

Lawyer: Ciarán Rogers

Allen & Overy

Party: Bank of Ireland (Issuer)

Arthur Cox

Party: Bank of Ireland (Issuer)

Lawyer: Phil Cody

Linklaters

Party: Deutsche Bank AG Na ON (Joint lead manager)

Party: UBS (Joint lead manager)

Party: Bank of America Merrill Lynch (Joint lead manager)

Party: Credit Suisse (Joint lead manager)

Party: J&E Davy (Joint lead manager)

Party: Morgan Stanley (Joint lead manager)

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