AIB agrees €500m funding deal secured on credit card portfolio

Allied Irish Banks has agreed a €500 million two year floating rate bilateral term funding transaction as part of its plan to diversify its funding, it said in a statement.

1st November, 2013
AIB is attempting to diversify its funding base.

Allied Irish Banks has agreed a €500 million two year floating rate bilateral term funding transaction as part of its plan to diversify its funding, it said in a statement.

The deal has been agreed with BofA Merrill Lynch and Deutsche Bank and will be secured by “a high quality portfolio” of Irish credit card receivables, AIB said. The transaction has no impact on AIB's credit card customers, it said.

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