DUBLIN - Allied Irish Banks, p.l.c. (AIB) has completed the repurchase of portions of three of its subordinated notes series, the bank announced today. The transaction, involving the repurchase of notes at a discount to par, is set to settle on Thursday, with the bank indicating that the repurchased notes will be promptly cancelled thereafter.
The repurchase includes £1,000,000 of its £500,000,000 Subordinated Callable Fixed/Floating Rate Notes due in 2035, €24,985,000 of its €500,000,000 Callable Subordinated Step-Up Floating Rate Notes due in 2035, and £71,505,000 of its £368,253,000 12.5 percent Subordinated Notes due in 2035. Following the cancellation, the outstanding amounts will be reduced to £136,000, €300,000, and £7,355,000, respectively.
Before the repurchase and cancellation, the outstanding nominal amounts were £1,136,000 for the Subordinated Callable Fixed/Floating Rate Notes, €25,285,000 for the Callable Subordinated Step-Up Floating Rate Notes, and £78,860,000 for the 12.5 percent Subordinated Notes.
The bank has expressed a willingness to discuss potential further repurchases with any holders of the remaining outstanding notes post-settlement.
This announcement is deemed to contain inside information as stipulated under the Market Abuse Regulation (EU) 596/2014. Mark Whelan, Head of Funding and Liquidity at AIB, released the information in compliance with these regulations.
The move is part of AIB's treasury management activities and is not an offer or invitation to acquire any notes. The bank has advised that distribution of this announcement could be subject to legal restrictions in certain jurisdictions and has urged those in possession of the announcement to inform themselves about and adhere to any such restrictions.
The information in this article is based on a press release statement and does not constitute financial advice or a recommendation to buy or sell securities.
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