Permanent TSB eyes CoCo first to fill capital hole

摘要

Permanent tsb group could become the first Irish bank to issue Additional Tier 1 bonds, as part of a broader capital-raising undertaken by the institution. The lender said on Wednesday that it would raise €125m in AT1 alongside €400m of new equity before the end of June, part of a capital plan it submitted to the European Central Bank after it failed 2014 stress tests. Irish banks have sold deeply subordinated debt before, the most notable being the remarketing of Bank of Ireland's preference shares.