Permanent TSB Group Holdings said it has successfully raised €500m through a sale of residential mortgage backed securities today.
This was the first publicly placed new issue of residential mortgage backed securities by Permanent TSB since 2006.
The bank said that there was strong investor interest in the transaction, which was significantly over-subscribed with demand of more than three times the deal size.
The transaction was priced at 3 month Euribor plus 1.65%, which was lower than the initial guidance.
"This was a very successful transaction for Permanent TSB. It allowed us to raise €500m on favourable terms and reflects strong investor confidence in both Permanent TSB and the Irish economy”, commented Kieran Bristow, Group Treasurer at the bank.
