Ulster Bank raises €1.5bn
Ulster Bank Group has today announced that it has raised €1.5 bn through the issue of floating rate notes with a maturity of three years.
The notes, which give a return of Euribor +0.06%, will be listed on the Irish stock exchange.
Commenting on the funding transaction, Mr. Michael Torpey, Group Finance Director, Ulster Bank Group said: “This is a very successful funding transaction for us. As a leading bank in the Irish market, evidenced by recently achieving the ‘Business Banking Excellence Award 2007’ at the KPMG Financial Services Excellence Awards for the third year in a row, it is necessary to source ongoing funding from the international capital markets as we continue to strongly grow our loan asset portfolio. The funds will be used for general corporate purposes”.
