Skip to main content

Bank Of Ireland To Raise Funds

Bank Of Ireland To Raise Funds - The Bank of Ireland and Irish Life & Permanent Group Holdings PLC said Monday they are launching capital-raising drives to meet the terms of the country's multibillion-euro bailout.

The Bank of Ireland said it aims to raise €2.2 billion ($2.91 billion) by Feb. 28 through a combination of internal initiatives, support from existing shareholders and other capital-markets sources.

The Irish government will subscribe for the incremental capital, should the bank "not be in a position to raise sufficient capital within the proposed timeframe," it said in a statement.

Separately, Irish Life said it aims to raise €100 million from its own resources in an unspecified time frame. It said the move will have a "modest impact" on the group.

Irish Life Chief Executive Kevin Murphy said the strengthening of the capital position would reassure international investors over the ability of Irish banks to withstand the impact of the current recession.

Ireland's government reached an agreement Sunday on an €85 billion rescue package from the European Union and International Monetary Fund, which will carry an approximately 6% interest rate and have an average maturity of 7.5 years. Ireland will have to contribute €17.5 billion to the effort.

Under the deal, €35 billion was earmarked to help restructure the banking sector, including €10 billion for recapitalization.

Bank Of Ireland To Raise Funds


Popular posts from this blog

Urban Meyer Stepping Down

Urban Meyer Stepping Down - Well, it appears as if it’s deja vu all over again.

Less than 12 months after retiring and then un-retiring, Urban Meyer is apparently stepping down as Florida’s head coach. There’s no word on if he will be stepping back up tomorrow.

Urban Meyer Stepping Down

According to Todd Wright of Sporting News radio, and AOL Fanhouse‘s Brett McMurphy Meyer will announce at a 5 p.m. ET press conference Wednesday that he is resigning/retiring as the Gators’ head coach. There are no further details available at this time, other than GatorUpdates reporting over the weekend that Meyer checked into a hospital the week of the UGA game and has been undergoing tests since.

Obviously, we’ll have more on this story throughout the day and well into the night…

Urban Meyer Stepping Down

Matt Cassel Undergoes Appendectomy

Matt Cassel Undergoes Appendectomy - The mystery of Matt Cassel missing practice Wednesday coupled with the Kansas City Chiefs promoting quarterback Tyler Palko has been solved.

The team has announced that Cassel underwent an appendectomy on Wednesday morning. The Chiefs say they expect Cassel to return to work this week. Returning to work and being ready to perform well in the team’s biggest game of the season on Sunday against San Diego are two different things. ESPN’s Adam Schefter is reporting the Chiefs are viewing Cassel as being questionable to play in the game.

Clearly, this is terrible timing. The Chiefs are 8-4 and would take a major step toward the playoffs with a win over the Chargers. Cassel has played very well for the past two months. If he can’t play, the brittle Brodie Croyle would face the Chiefs in his first action of the season. Croyle last played in Week 13 of the 2009 season.

Matt Cassel Undergoes Appendectomy

Cassel’s availability will come down to whether he…

100-calorie Packs Diet

100-calorie Packs Diet - Did you know recent studies show chronic dieters tend to consume more calories when foods and packages are smaller? Consumer behavior was observed in the study regarding "mini-packs," 100-calorie food packages that are marketed to help people control calorie intake.

The study revealed that one group that over-consumes the mini-packs is chronic dieters - individuals making a conscious effort in trying to manage their weight and food intake.

This shows that the distorted perception of small packages may actually undermine dieters' attempts to limit calories.

Consider this: Consumers perceive the mini-packs to be a generous portion of food - numerous small food morsels in each pack and multiple mini-packs in each box - while on the other hand, consumers perceive the mini-packs to be diet food. For chronic dieters, this perceptual dilemma causes a tendency to overeat, due to their emotion-laden relationship with food.

In a series of focus group studi…