Saturday June 6, 2020

Permanent TSB buyback to raise up to €180m - report

Permanent TSB Group is to raise as much as €180 million of capital by buying back residential mortgage-backed securities at a discount, Bloomberg has reported.

11th October, 2012
2
Some 28.4 per cent of Permanent TSB’s €6.63 billion Irish buy-to-let residential mortgage book was classified as impaired, or more than 90 days in arrears, at the end of June.

Permanent TSB Group is to raise as much as €180 million of capital by buying back residential mortgage-backed securities at a discount, Bloomberg has reported.

The state-controlled lender offered to buy back about €1.2 billion of mortgage-backed securities on September 13th issued by its Fastnet Securities 2 vehicle at 30 cents to 72.5 cents on the euro. The company will raise €150 million to €180 million from the accord, Bloomberg quoted an unnamed source as saying.

The report...

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