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Bank of Ireland raises $1bn through US bond

Bank of Ireland said there was strong investor interest in its latest bond auction
Bank of Ireland said there was strong investor interest in its latest bond auction

Bank of Ireland has raised $1 billion through the issuance of a dollar-denominated bond in the US market.

It's the first such issuance by the bank since September 2022.

Bank of Ireland said it received orders worth more than $4 billion, with the sale carrying a yield of 5.601%.

"The quality and level of investor demand for this bond strongly underlines the Group's ability to access funding from international capital markets," the bank said in a statement.

Fraud warning

Separately, Bank of Ireland today warned about a number of false online articles which aim to defraud customers.

The articles reference the bank and try to lure readers into handing over personal details through fake financial products, investments or cryptocurrency schemes.

Bank of Ireland said the content is made to look like legitimate news articles but is in fact paid-for advertisements by fraudsters.

Its head of fraud, Nicola Sadlier, said trying to identify and report these misleading adverts was "like a game of whack-a-mole".

"Our advice to consumers is: Don’t click on these adverts, ignore them completely, and if an investment sounds too good to be true, it’s probably fraud," she said.