IL&P raises €1.15bn in funds

IRISH Life & Permanent (IL&P) has raised €1.15 billion in fresh funding via two separate transactions.

The bulk of the funding is through a bilateral transaction with an unnamed international investment bank for £900 million (€1bn), which is secured on the bank’s British mortgage book.

This follows a similar transaction made in August, when the bank successfully raised £1.4bn of unguaranteed funding.