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

Work-Related Personal Development Plans

Work-Related Personal Development Plans - Personal development refers to activities that improve self-knowledge and identity, develop talents and potential, build human capital and employability, enhance quality of life and contribute to the realization of dreams and aspirations. The concept is not limited to self-development but includes formal and informal activities for developing others, in roles such as teacher, guide, counselor, manager, coach, or mentor. Finally, as personal development takes place in the context of institutions, it refers to the methods, programs, tools, techniques, and assessment systems that support human development at the individual level in organizations.

At the level of the individual, personal development includes the following activities:

* improving self-awareness
* improving self-knowledge
* building or renewing identity
* developing strengths or talents
* identifying or improving potential
* building employability or human ca…

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…