Irish banks out of rehab? BoI covered bond attracts €2.5bn

16 Nov 2012

Bank of Ireland this week got an overwhelming endorsement from investors for its first publicly syndicated, non-government guaranteed debt since Ireland was forced to seek help from the European Union and International Monetary Fund in late 2010, writes Bill Thornhill.

The €1bn three year Asset Covered Security, lead managed by Citi, Morgan Stanley, Nomura, RBS and UBS, represented an important landmark in the rehabilitation of the Irish banking system and illustrated a growing conviction that the Irish economy is on the right path.

It is not often that ...

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