Friday May 29, 2020

European Commission to give nod to PTSB’s restructuring plan

The European Commission is understood to have provisionally signed off on state-owned lender Permanent TSB’s capital restructuring plan.

15th February, 2015
Michael Noonan

While officials in Brussels have given their initial approval for the state-owned lender, the exact legal and technical specifications of the plan have not yet been locked in. It is expected that this process could take several more weeks to complete.

Approval from the European Commission means that the bank has effectively cleared the final hurdle before it taps markets for around €400 million to help plug the €855 million hole in its balance sheet,...

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