Bank of Ireland to Redeem £50m Callable Notes a Year Early

Bank Of Ireland Group plc ( (DE:BIRG) ) just unveiled an update.

Bank of Ireland Group plc has announced that it will exercise its issuer call option to redeem in full its GBP 50 million Fixed Rate Reset Callable Notes, Series 740, originally due June 3, 2027, on the optional redemption date of June 3, 2026. The notes will be redeemed at their optional redemption amount plus accrued and unpaid interest up to but excluding the redemption date, after which the notes will be cancelled and delisted from Euronext Dublin, reflecting the bank’s active management of its capital and funding profile.

Following the redemption, no further interest will be paid on the notes and the issuer will request cancellation of their listing and trading admission on the regulated market of Euronext Dublin. The move underscores Bank of Ireland’s willingness to optimize its liability structure and may signal confidence in its access to alternative funding sources and overall capital position, with operational implications for noteholders as the instrument is retired ahead of its original maturity.

More about Bank Of Ireland Group plc

Bank of Ireland Group plc is a diversified financial services and banking group headquartered in Ireland, operating across retail, corporate and treasury activities. It issues debt instruments in international capital markets, including notes under its €25 billion Euro Note Programme, to support its funding and balance sheet management needs.

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