AIB to sell 3.5-year covered bond
LONDON, Jan 21 (IFR) - Allied Irish Banks has hired Barclays, Deutsche Bank, Morgan Stanley and UBS to sell a 3.5 year covered bond that will be launched in the near future, a lead manager said on Monday.
AIB, which is rated Ba3/BB/BBB (Moody's, S&P and Fitch respectively - neg/neg/stable), was Ireland's biggest lender until it was bailed out by the state which took a 95% stake in September 2010.
This will be AIB's second visit to the covered bond market in as many months having sold a EUR500m three-year covered bond at the end of November of last year at mid-swaps plus 270bp. (Reporting by Aimee Donnellan; editing by Alex Chambers)
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