Danske Bank, Royal Bank of Scotland and WestLB acted as joint arrangers of the Revolving Credit facility, which attracted commitments from thirty seven international banks, from thirteen different countries.

The Revolving Credit facility was increased in size from Euro 300 million to Euro 600 million following a significant over-subscription from the international banking market. The response to the facility reflects the growing involvement of Anglo Irish Bank in the international capital markets. It also reflects the increasing size and international standing of the Bank.

The facility has a tenor of three years.

The GBP 200 million Perpetual Capital Securities issue is subject to final regulatory consent and will qualify as Tier 1 Capital. The Securities will carry a coupon of 8.5% per annum. While the Securities are perpetual they can repaid by Anglo Irish Bank after 10 years.

This instrument will further enhance the capital resources of the Bank and will support the ongoing growth and development of the balance sheet.

Tiarnan O Mahoney, Treasury Director at Anglo Irish Bank commented, “The Revolving Credit facility we signed today is one of the largest medium term facilities negotiated to date in the Irish market and is a further endorsement of the credit standing and profile Anglo Irish Bank has built in recent years. We are also delighted with the success of the Perpetual Capital Securities fundraising, which has been achieved on attractive terms. It will strengthen our capital base allowing Anglo Irish Bank to continue its strong organic growth.

Coming on the back of the recent upgrade in Anglo Irish Bank’s long term credit rating to A3 by Moody’s, these fundraisings are further evidence of the very strong support Anglo enjoys from the international financial community”.

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For further information, please contact:
Tiarnan O Mahoney,
Treasury Director
Anglo Irish Bank Corporation plc,
Tel: (01) 6162600

Ronan White,
Head of Corporate Communications,
Anglo Irish Bank Corporation plc
Tel: (01) 6162329