Davy Research

Bank of Ireland

First Irish issuance of HoldCo subordinated debt
Banks
Bank of Ireland

DAVY VIEW

Bank of Ireland’s successful return to the subordinated debt market highlights how the cost of achieving its bail-in-able debt (MREL) requirement over the next few years looks increasingly manageable. Final pricing of both the US dollar and sterling Tier 2 bonds tightened by 15-30bps versus initial thoughts and both order books were well oversubscribed, highlighting the breadth of investor support in the credit market.

Download full report with analyst certification and important disclosures
Download
Download full report with analyst certification and important disclosures
Download
  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Bank of Ireland

    Closing Price: 691c

  • RATING 11/03/13

  • PREVIOUS RATING 14/08/12

    Neutral

Analyst(S)

COMPANY DATA

JUMP TO