Bank of Ireland raises €1 billion of 3 year un-guaranteed secured covered bonds in its first public benchmark transaction since October 2010 |
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November 13th: In the first benchmark-size euro denominated public issue based on Irish mortgage collateral from an Irish financial institution since late 2009, Bank of Ireland has raised €1 bn in covered bonds, with the demand oversubscribed 3.5 times. Ninety eight per cent of the 200 investors were from outside Ireland. It follows the return to the bond markets of the Government earlier this year, and reflects a degree of international positivity about the economy's recovery, noted in the decline in bond yields this year. |
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