Financials
BoI secures €1bn in non-State funding
Tuesday, 29 September 2009 17:24Bank of Ireland has raised €1 billion in funding without relying on the Government guarantee.
The bank will have to repay the money in 2013.
The bank said the fact it was able to raise money without the support of the guarantee was 'a significant vote of confidence by international bond investors in Bank of Ireland'.
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In a statement on the matter, BoI said the over-subscribed order book was opened and closed within one hour.
The bond issue opportunity was very popular in Germany and Austria, with 31% of the investors coming from those two counties. Irish investors accounted for 8% of the take-up.
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