Bank of Ireland is the largest Irish bank by market capitalisation and is a diversified Financial Services Group. The notes are unconditionally and irrevocably guaranteed by the Minister for Finance of Ireland pursuant to the Credit Institutions (Eligible Liabilities Guarantee "ELG") Scheme 2009 of Ireland. This transaction represents the first deal for Bank of Ireland under the ELG Scheme and is also the inaugural Euro denominated issue under the scheme.

On the back of a EUR 3.3bn+ book, Bank of Ireland printed a EUR 2.5bn deal at the tight end of revised price guidance, at mid-swaps +145bp.
This was a highly successful transaction with a meticulous execution strategy amidst a challenging market backdrop.