AIB Group Plc, the new holding company for Allied Irish Banks Plc, issued €500 million in senior unsecured international bonds, The Irish Times reported March 22.

AIB previously confirmed that it expects to issue between €3 billion and €5 billion of so-called bail-inable debt via the holding company to comply with regulatory requirements.

Debt issued in the future by AIB Group, which the Irish lender set up at the end of 2017 to comply with European rules on bank resolution, could be bailed in if needed before support from the Irish government would be drawn upon. However, deposits would remain with AIB's operating companies, where they would be better protected, The Irish Times said.

The bail-inable bonds carry a coupon of 1.5% and mature March 29, 2023, Cbonds reported.

BNP Paribas, Goldman Sachs, JPMorgan, Morgan Stanley and UBS Group served as book runners on the deal.