Following on from their successful listing on the Main Securities Market (MSM), Permanent tsb, the Irish retail bank, has raised an additional €425m through two bond listings on the Irish Stock Exchange (ISE).
Permanent tsb listed additional tier 1 (AT1) capital on the Global Exchange Market (GEM) on 29 April 2015. The €125m debt security has a coupon rate of 8.265%. The issuance is in the form of fixed rate resettable notes that convert into ordinary shares if the regulatory capital of the bank decreases to a certain level.
Permanent tsb also successfully raised €300 million of debt by way of a 3 year senior unsecured Medium Term Note (MTN). This debt instrument listed on the MSM on 22 April, has a coupon rate of 2.375% and is due 22 May 2018.
