Ireland’s permanent tsb raises 400 mln euros new debt

by fm

1st March 2013

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1 min read

State-owned Irish lender permanent tsb (PTSB) said on Friday it had raised 400 million euros ($523 million) fresh debt, bringing to 1 billion the amount of new debt secured against its British and Irish mortgage books this year.

The smallest of Ireland's three remaining domestically-owned banks, permanent tsb was handed approval by the country's EU/IMF lenders lenders last year to eke out a viable future by moving bad assets off its balance sheet.

It said it raised the money in unguaranteed debt in a private deal using Irish residential mortgages. A spokesman for PTSB said the bank's deposit book rose 1 billion euros in the second half of the year.

Ireland's main banks have followed the sovereign back into capital markets in recent months, over two years after they lost access, forcing the state into a bailout and lenders to turn to the European Central Bank for funding.