Commentary & Deal Flow

Tranche 1 (6NC5): Final books >€1.68bn. Peak book >€2.1bn

Launched: 6NC5: €750m @ MS+75bp - Books >€2.1bn
Book update: Books >€1.75bn
IPTs: 6NC5: MS+100/105bp

• Issuer: AIB Group plc
• Issuer LEI: 635400AKJBGNS5WNQL34
• Ticker: AIB
• Status: Unsecured, unsubordinated
• Issuer Ratings: A2 (stable) / BBB+ (stable) (Moody's / S&P)
• Expected Securities Ratings: A2 / BBB+ (Moody's / S&P)
• Form: Reg S, Bearer, CGN, Cat 2, TEFRA D
• Tenor: 6NC5 FXD
• Size: €750m
• Pricing Date: 21-Sep-26 (T)
• Issue Date: 28-Sep-26 (T+5)
• Maturity Date: 28-Sep-32
• Optional Redemption Date: 28-Sep-31
• Interest Payment Dates: 28 September in each year, commencing on 28-Sep-27 up to and including the Maturity Date
• Benchmark: OBL 2.5 16-Apr-31 (DE000BU25067)
• Hedge Ratio: 108% vs OBL 2.5 16-Apr-31
• Hedge Deadline: 13:50 UKT / 14:50 CET
• Initial Coupon: [•]% Fixed, Annual, ACT/ACT ICMA until the Optional Redemption Date
• Reset Coupon: If not redeemed at the Optional Redemption Date, Notes will reset to a fixed rate equal to the 1-year EUR Mid-Swap Rate +[•]bps
• Listing/Law/Denoms: Euronext Dublin / Irish Law / 100k+1k
• Green Bonds: Yes
• Clearing: Euroclear, Clearstream
• Loss Absorption Disqualification Event: Applicable, subject to certain conditions
• Substitution and Variation: Applicable
• Clean-up Call: Applicable at par, subject to certain conditions. Clean-up Call Minimum Percentage: 75%
• ISIN/Common Code: XS3518509578 / 351850957
• Joint Lead Managers: Goldman Sachs International (B&D), Goodbody, ING, Lloyds, Morgan Stanley, Santander
• ESG Advisor: Goodbody
• Green Bond Structuring Advisor: ING
• Use of Proceeds: An amount equal to the net proceeds from the issue of the Green Bonds will (subject as set out below) be allocated to an Eligible Green Loan Portfolio (as defined in the “Green Bond Framework Overview” section of the Base Prospectus and selected in accordance with the criteria set out in the “Green Bond Framework Overview—Use of Proceeds” and “—Process for Project Evaluation and Selection” section of the Base Prospectus). Whilst any portion of an amount equal to the net proceeds of the Green Bonds remains unallocated, the Group will hold and/or invest, at its own discretion, in its treasury liquidity portfolio, in cash or other liquid instruments, the balance of an amount equal to the net proceeds not yet allocated to the Eligible Green Loan Portfolio
• Target Market: Manufacturer target market (MiFID II / UK MiFIR product governance) is eligible counterparties and professional investors only (all distribution channels). No CCI disclosure document has been prepared as not available to retail in the UK. No EU PRIIPs key information document (KID) has been prepared as not available to retail in the EEA
• Documentation: €10bn Euro Medium Term Note Programme Base Prospectus dated 17-Sep-26
• Timing: Books open, today's business
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities. Details of the fee may be made available upon request
• Books Subject Deadline: 12:15 UKT / 13:15 CET