Anglo Irish Bank announced that yesterday it raised �750 million of regulatory capital by issuing dated subordinated notes. The transaction is the largest ever capital raising by an Irish financial institution and was increased in size from �500 million following very strong investor demand and was still substantially oversubscribed. The bonds have a term of ten years and carry a coupon of Euribor plus 0.45%. The issue, which was arranged by ABN AMRO, Barclays Capital and BNP Paribas, was sold to over ninety investors throughout Europe and Asia following an extensive investor roadshow.
Commenting on the issue, John Bowe, Head of Debt Capital Markets at Anglo Irish Bank said �We are delighted that investors have responded so positively to this capital raising which reflects their confidence in the future growth and development of the Bank. The significant size of the capital raising, which is the largest ever completed in the Irish market, says something about Anglo�s size and financial strength and with assets of over �30 billion, also reflects the confidence that Anglo Irish Bank has in its future growth. This additional capital will create the capacity for the Bank to significantly expand its lending activities and grow profitably into the future�.
For further information contact:
John Bowe
Head of Debt Capital Markets
Telephone: +353 1 616 2649
