Strong demand from investors allowed AIB to cut the interest rate it was offering as it raised €625 million in new capital. Photograph: Conor Ó Mearáin / Collins
AT1 bonds can be converted to equity or written down entirely if the bank’s capital strength – its Common Equity Tier 1 CET1 ratio – were to fall below 7 per cent, and, as perpetual bonds, do not have a maturity date. It said the money raised will help support the banking group in meeting its regulatory capital requirements.
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