AIB has completed the issue of a €500 million fixed-rate senior unsecured debt issue with a maturity of five years and a coupon of 1.375 per cent.

The bank said the deal attracted a high quality mix of 139 investors and a total of 88 per cent of the final allocations were made to international investors.

The funding transaction was arranged by Bank of America Merrill Lynch, Deutsche Bank, HSBC, Morgan Stanley and Nomura. It attracted €1.1 billion of total demand.

Final pricing was at 108 basis points over mid swaps with an all in yield of 1.381 per cent. The final order book at these pricing levels was in excess of 2 times over-subscribed, AIB said.

The bank has issued five covered bond issuances, three senior unsecured issuances and a credit card securitisation, which collectively total €4.75 billion since November 2012.