NAMA takes hold, Irish spreads contract
Bank of Ireland raised Eu1bn of three and half year money on Tuesday, taking advantage of tighter spreads as investors grow more confident about NAMA, the country’s Eu78bn bail-out scheme. It priced with a spread of 245bp over mid-swaps, 5bp tighter than Allied Irish Banks’ three year last week. Read EuroWeek on Friday to see how bankers and investors react.
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