Allied Irish Banks Plc has hired BNP Paribas, Goldman Sachs International, JP Morgan, Morgan Stanley and UBS to arrange meetings with potential investors for its new holding company's first issuance of so-called "bail-inable" bonds, The Irish Times reported.

The senior unsecured bonds will mature in five years, according to the March 17 report. AIB previously confirmed that it expects to issue between €3 billion and €5 billion of bail-inable debt via the holding company to comply with regulatory requirements, the newspaper added, citing an updated debt prospectus for the holding company submitted recently to the Irish central bank.

Debt issued in the future by the holding company, which AIB 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, The Irish Times noted.