Anglo Irish to raise up to €5bn with cheaper ACS funding

Anglo Irish Bank is to cut its funding costs sharply by using a new form of financing to raise up to €5 billion when legislation governing specialist debt issues is changed later this year.

3rd February, 2007

Anglo Irish Bank is to cut its funding costs sharply by using a new form of financing to raise up to €5 billion when legislation governing specialist debt issues is changed later this year.

The bank, which raised €540 million in fresh equity through a share placement last week, will tap the market for Asset Covered Securities (ACSs) for the first time, allowing it to become the third Irish bank to avail of cheaper funding...

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