Skip to main content

  • 4.5 times oversubscribed with c.125 orders at a coupon of 4.25%
  • First bond issuance since returning to full Investment Grade status
  • First bond issuance under the Bank’s Green Bond Framework

PTSB has today confirmed its issuance of €500m Green Senior HoldCo notes at a coupon of 4.25% following a successful launch to the market this morning. The issuance was 4.5 times oversubscribed with a final order book of €2.2bn, comprising of 120 investors.

This is the Bank’s first bond issuance since returning to Investment Grade status following Permanent TSB Group Holdings plc being upgraded to an Investment Grade rating by ratings agencies Moody’s and Fitch in September 2022 and February 2024 respectively.

The transaction reinforces PTSB’s focus on maintaining a management buffer over its regulatory MREL requirements. The deal also builds on PTSB’s track record of successful transactions in the debt capital markets and represents a further step towards becoming a more regular market issuer with programmatic annual benchmark size deals.

Today’s announcement also marks the first green bond issuance under the Bank’s Green Bond Framework and demonstrates PTSB’s intent to embed Sustainability into its funding strategy. A key component of the Bank’s Sustainability Strategy, the Green Bond Framework has been established to help mitigate climate change through reduced carbon emissions and energy demand, protect vulnerable ecosystems, and support the strategic outcomes of Project Ireland 2040, the United Nation’s Sustainable Development Goals and Ireland’s Climate Action Plan.

PTSB Chief Executive, Eamonn Crowley, said:

“Today’s outcome is a strong statement of confidence from the investor community in the excellent progress PTSB is making in evolving our business and diversifying our investor base and funding sources. Building on our already successful green mortgage proposition which accounted for 30% of PTSB’s total new mortgage lending in 2023, our Green Bond Framework further demonstrates our commitment and contribution towards the low-carbon economy and building a sustainable future for our customers and communities.”

Back to top
Page loading
Close takeover popup
PTSB logo

Altogether more human