13th Sep 2006 17:22
Bank of Ireland(Governor&Co)13 September 2006 13 September 2006 Bank of Ireland Issue Stg£500 million Fixed/Floating Rate Perpetual Preferred Securities Bank of Ireland announces that it has launched and priced an issue of Stg£500million fixed/floating rate non-voting non-cumulative perpetual preferredsecurities (the "securities") to be issued by a Bank subsidiary and guaranteedby the Bank. The transaction is part of Bank of Ireland's normal capitalmanagement process. The securities are perpetual but callable on April 3, 2017, with no step-up incoupon at that point, and have been priced with a coupon of 6.4295% and issuedat par. This represents a margin of 185bps over the UKT 4.75% September 2015bond at the time of pricing. Coupons will be paid semi-annually in arrears untilApril 3, 2017. The securities are callable at par at the option of Bank ofIreland, subject to regulatory approval, on April 3, 2017, and on everysubsequent coupon date, and if not called, the coupon resets to a floating rateequal to 150 bps over three month sterling LIBOR. Application will be made to the Irish Stock Exchange for admission of the notesto the Official List. Stabilisation in accordance with article 9(2) ofCommission Regulation (EC) No. 2273/2003 implementing the Market Abuse Directive(2003/6/EC). Enquiries: Brian Kealy, Head of Capital Management 003531 - 6043526Geraldine Deighan, Head of Investor Relations 003531 - 6043501Dan Loughrey, Head of Group Corporate Communications 003531 - 6043833 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BKIR.L