Another step to help boost our credit rating

The successful refinancing of the €1.8bn preference shares was another positive credit event which should help improve Ireland’s overall credit rating, said investors.

“This transaction is another important step for both the State and Bank of Ireland, and furthers our policy objective of separating the sovereign from the banks.

“This is the third disposal in the financial sector this year and upon completion over €4.4bn of cash will have been returned to Irish taxpayers this year alone,” said the Finance Minister Michael Noonan.