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Allied Irish Banks (BK32)

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Thursday 14 April, 2011

Allied Irish Banks

AIB - Subordinated Liabilities Order

RNS Number : 9613E
Allied Irish Banks PLC
14 April 2011
 



 

 

 

For Immediate Release

14th April 2011

 

 

Allied Irish Banks, p.l.c. - Subordinated Liabilities Order

Dublin, Ireland - Allied Irish Banks, p.l.c. ("AIB") [NYSE:AIB]

 

The Irish High Court has today made a subordinated liabilities order (the "Order") following an application by the Minister for Finance (the "Minister") pursuant to the provisions of Section 29 of the Credit Institutions (Stabilisation) Act 2010.  A copy of the Order is available from the Central Office of the High Court by e-mail to listroomhighcourt@courts.ie or will shortly be available on AIB's website at www.aibgroup.com/investorrelations.

 

The Minister reaffirmed today AIB's position as a pillar of the Irish banking sector. Following the Order AIB will launch an exercise to buy back certain subordinated liabilities.  The capital to be generated will be part of the total €13.3bn required by AIB following the recent PCAR exercise.

 

The Minister also confirmed that there are no actions planned in respect of AIB's senior bondholders.  AIB welcomes the support and clarity contained in today's statement by the Minister. 

 

The Order has been made in respect of the following subordinated liabilities of AIB:

 


Subordinated

Liabilities

Issuer

ISIN

Code

1

€419,070,000 10.75 per cent. Subordinated Notes due 2017

Allied Irish Banks, p.l.c.

XS0498532117

2

£1,096,645,000 11.50 per cent. Subordinated Notes due 2022

Allied Irish Banks, p.l.c.

XS0498531069

3

U.S.$177,096,000 10.75 per cent. Subordinated Notes due 2017

Allied Irish Banks, p.l.c.

XS0498530178

4

£368,253,000 12.5 per cent. Subordinated Notes due 25 June 2019

Allied Irish Banks, p.l.c.

XS0435957682

5

€868,518,000 12.5 per cent. Subordinated Notes due 25 June 2019

Allied Irish Banks, p.l.c.

XS0435953186

6

£700,000,000 Callable Dated Subordinated Fixed to Floating Rate Notes due July 2023

Allied Irish Banks, p.l.c.

XS0368068937

7

€500,000,000 Callable Subordinated Step-Up Floating Rate Notes due 2017

Allied Irish Banks, p.l.c.

XS0232498393

8

£500,000,000 Subordinated Callable Fixed/Floating Rate Notes due 2025

Allied Irish Banks, p.l.c.

XS0214107053

9

€400,000,000 Subordinated Callable Step-Up Floating Rate Notes due 2015

Allied Irish Banks, p.l.c.

XS0208845924

10

U.S.$400,000,000 Dated Callable Step-Up Subordinated Notes due 2015

Allied Irish Banks, p.l.c.

XS0197993875

11

£350,000,000 Subordinated Callable Fixed/Floating Rate Notes due 2030

Allied Irish Banks, p.l.c.

XS0180778507

12

€200,000,000 Perpetual Subordinated Callable Step-Up Notes

Allied Irish Banks, p.l.c.

XS0100325983

13

£400,000,000 Perpetual Callable Step-Up Subordinated Notes

Allied Irish Banks, p.l.c.

XS0227409629

14

€500,000,000 7.50 per cent. Step-Up Callable Perpetual Reserve Capital Instruments

Allied Irish Banks, p.l.c.

XS0120950158

15

€1,000,000,000 Fixed Rate/Floating Rate Guaranteed Non-voting Non-cumulative Perpetual Preferred Securities

AIB UK I LP

XS0208105055

16

€500,000,000 Fixed Rate/Floating Rate Guaranteed Non-voting Non-cumulative Perpetual Preferred Securities

AIB UK 2 LP

XS0257734037

17

£350,000,000 Fixed Rate/Floating Rate Guaranteed Non-voting Non-cumulative Perpetual Preferred Securities

AIB UK 3 LP

XS0257571066

18

U.S.$100,000,000 Subordinated Primary Capital Perpetual Floating Rate Notes

Allied Irish Banks, p.l.c.

IE0000189625

 

 

In summary and as set out in further detail in the Order, the Order amends the terms of the subordinated liabilities as follows:

 

1.The terms of the subordinated liabilities listed at 1 to 11 (inclusive) in the table above have been amended such that any interest that may fall due on such liabilities will only be payable at the option of AIB (in its sole discretion).

 

2.The terms of the subordinated liabilities listed at 1 to 11 (inclusive) in the table above have been further amended such that the maturity date of each such liability has been extended to 2035, on the relevant interest payment date specified in the Order.

 

3.The terms of the subordinated liabilities listed at 14 to 17 (inclusive) in the table above have been amended such that any restriction on (i) payment of any distribution or dividend on any other specified junior or parity securities of AIB, or (ii) any repurchase or redemption of such junior or parity securities, has been removed.

 

4. The terms of the subordinated liabilities listed at 12, 13 and 18 in the table above have been amended such that (i) the requirement to pay any arrears of interest on such liabilities upon the payment of any dividends by AIB has been removed, and (ii) the payment of any coupon on such liabilities following the payment of a dividend by AIB is now entirely at the option of AIB.

 

- ENDS -

 

For further information please contact:

Alan Kelly

Catherine Burke

General Manager, Corporate Services

Head of Corporate Relations and Communications

AIB Group

AIB Group

Dublin

Dublin

Tel: +353-1-6412162

Tel: +353-1-6413894

email: alan.j.kelly@aib.ie

email: catherine.e.burke@aib.ie

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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