April 23, 2024 10:39 GMT
Financials Issues: AIB, Crelan Final Terms, Strong Cover
FINANCIALS
Final terms on some of the financials issues:
- FINAL TERMS: AIB Group €625m PNC6 AT1 Coupon 7.125%
- IPT was 7.625%, we saw FV around 7.15-7.20% so little evidence of any NIC here.
- Books were above EUR3.25bn, so 5.2x covered.
- FINAL TERMS: Crelan EU300m 11NC6 Tier 2 MS+260.
- IPT was MS+290bp area.
- Books are above EUR2.25bn, so 7.5x covered.
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