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

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago