16th Jun 2020 10:03
(Alliance News) - AIB Group PLC on Tuesday opened a tender offer for its EUR500.0 million fixed rate reset additional Tier 1 perpetual contingent temporary write-down securities.
Shares in the Irish lender were 11% higher in London on Tuesday morning at EUR1.22 each.
"The purpose of the offer is to provide liquidity to securityholders, and it is being made as part of the offeror's active management of the AIB Group consolidated capital profile whilst issuing new additional Tier 1 securities ultimately for the benefit of the offeror's business," AIB said.
The lender said the purchase price will be 101.75% of the principal amount of the relevant securities.
Allied Irish Banks also noted it will issue new euro-denominated fixed rate reset additional tier 1 perpetual contingent temporary write-down securities.
By Paul McGowan; [email protected]
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