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AIB raises additional €500m in bid to repay State over bailout

The bonds attracted offers amounting to €4.75 billion from a wide range of international investors
The bonds attracted offers amounting to €4.75 billion from a wide range of international investors

AIB has raised another €500 million as part of its plans to start repaying the bailout it received from the State.

The bank issued €500 million of five-year debt at an interest rate of just below 7.5%.

Demand for the debt was nine times the amount on offer.

The bonds attracted offers amounting to €4.75 billion from a wide range of international investors.

Last week, AIB raised €750 million in a bond issue as part of its plan to start repaying €1.7 billion to the State.

The Government has pumped €21 billion into AIB since the financial crisis.