| Glossary of securitisation terms |
Issue: 11 / 2003 |
| Here is our selection of the most commonly used terms in securitsation transactions. |
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| Greencore raises $302mn |
Issue: 11 / 2003 |
| Greencore, the Irish food and agribusiness plc, has completed a private placement of $302 million in senior notes with nine institutional investors. |
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| HIM to stay |
Issue: 11 / 2003 |
| Hibernian Investment Managers (HIM) Irish office is to retain key investment activities despite loosing the management of international equities to London. Hibernian is one of Ireland’s largest asset managers with control of almost seven billion euro worth of assets. |
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| Irish private banks to exceed growth of European counterparts |
Issue: 11 / 2003 |
| With new money the key source of Irish wealth, Muriel Moroney and Denis Cremins predict that the growth rates for revenues and assets under management for the next three years for Irish private banks will be well in excess of the growth rates predicted for their UK and European counterparts. |
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| MBOs forecast to increase in 2004 as funding remains plentiful |
Issue: 11 / 2003 |
| Activity levels in the Irish management buy-out (MBO) market looks likely to remain strong into 2004 writes Gervaise McAteer (pictured right) driven by the strong availability of funding.whilst traditional M&A activity may have slowed, market conditions are ideal for management buy-outs (MBOs). This is clearly evident from the level of activity in the market with seven public to private transactions with a combined capital value of EUR 5.4 billion completed in the twelve-month period to August 2003, pushing Ireland to the forefront of European buy-out surveys. |
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| Minister warns institutions to be aware of regulatory risk |
Issue: 11 / 2003 |
| The Minister for Finance, Charlie McCreevy, has warned financial institutions of the risks posed by changes in financial regulation. |
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| National inconsistencies need to be overcome for pan-European banking industry to develop |
Issue: 11 / 2003 |
| In his discussion of the role of the Eurosystem in financial markets at the recent ACI Financial Markets dinner, Professor Eugenio Domingo Solans highlighted the importance of overcoming the inconsistencies which remain between national legislation. These inconsistencies, says Solans, such as the heterogeneity of bankruptcy laws and the absence of a Directive on takeover bids, continue to hamper the full integration of the financial system, and the development of a European banking industry. |
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| New MP at Arthur Cox |
Issue: 11 / 2003 |
| Arthur Cox has appointed Padraig O’Riordain as the new managing partner of the firm. He succeeds Eugene McCague, who will resume fulltime practice in the firm’s Corporate Department. |
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| O’Briain new head of IAIM |
Issue: 11 / 2003 |
| Ruth O’Briain, managing director of F&C Ireland, has been appointed chairman of the Irish Association of Investment Managers. |
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| Over-regulation - fact or fiction? |
Issue: 11 / 2003 |
| While company directors are increasingly arguing that the increased emphasis new regulations such as the Companies Bill is placing on their role is a bad thing, Fiona Delahunty says that increased director responsibility can only be good for a company and its stakeholders. |
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| Pensions Directive to benefit Ireland |
Issue: 11 / 2003 |
| Ireland is among the European countries set to capitalise on the recent EU pensions directive, according to a report by business information company Datamonitor. |
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| Solans attends ACI dinner |
Issue: 11 / 2003 |
| Eugenio Domingo Solans, executive board member of the ECB spoke on the subject of stability in financial systems at the recent dinner event held by ACI Ireland. |
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| Squeezing employment |
Issue: 11 / 2003 |
| The extension of PAYE and PRSI to benefits-in-kind is scheduled for 1 January 2004. The present indications are that it will not be postponed. Not all employers know that they are facing additional tax cost, administrative costs and confusion, and potential industrial relations problems. |
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| Venture capitalists against Companies Bill |
Issue: 11 / 2003 |
| The Chairman of the Irish Venture Capital Association (IVCA), Michael Murphy, has cautioned against a number of proposed legal, accounting and regulatory changes that could hinder the growth of the venture capital industry, despite signs of optimism in the market and the IVCA having €325 million available for investment. |
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| Wish lists |
Issue: 11 / 2003 |
| The main players in the pre-budget lobby game have now published their submissions to the Minister for Finance. There is a lack of consensus and no major widely supported themes emerge. The range of demands also seems modest compared to previous years, and a defeatist air can be detected in them. |
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