AIB eyes senior unsecured bond market return

AIB is planning to sell its first senior unsecured transaction since the country's banking system collapsed in 2008.

The bank has mandated Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley and Nomura to arrange an investor update today, ahead of the potential deal.

While AIB has sold public bond market transactions, this is the first time that investors will be able to buy the credit on an unsecured basis.

AIB sold a €500 million three-year covered bond back in November 2012.

Bank of Ireland is the only other Irish bank to have raised senior debt in the public market. It sold a €500 million three-year at the end of May.

An investors update phonecall will take place this afternoon and a benchmark deal is expected to follow, subject to market conditions.

Reuters