AIB raises €500m on 'covered' bonds
AIB has raised €500m on the markets after placing a so- called covered bond or mortgage-backed security with investors. The bond was bought by 90 investors and priced at an interest rate of 1.8pc over so-called mid-swaps, a benchmark of returns for investors.
It was the bank's second covered bond this year and only the third since the start of the banking crisis. The deal "supports AIB's stated objective to engage with the market in a balanced and measured manner," the bank said in a statement.
SMES WANT MORE PRESSURE ON BANKS
MORE than half of small business owners here feel that the Government should exert more pressure on banks to lend to SMEs, according to a new survey from BNI Ireland.
Despite this, 57pc of business owners said that they were investing more in their businesses this year than in 2012, with the highest level of investment being given to marketing, followed by people and new equipment respectively.
AER ARANN TO SELL OFF OLDER AIRCRAFT
AER Arann, which operates its services as Aer Lingus Regional under a franchise deal with Aer Lingus, has agreed to sell another of its older aircraft as part of its fleet renewal programme.
It's selling one of its turboprop planes to Myanmar Airways. It previously inked an agreement to sell another to Myanmar's Yangon Airways.
BRUTON LAUNCHES 'CAREER ZOO'
ENTERPRISE Minister Richard Bruton yesterday launched Career Zoo, a recruitment event for professionals and graduates.
The event, which takes place on Saturday, September 14 in Dublin's Convention Centre, will focus on job opportunities and the potential for new start-ups. Some 10,000 delegates are expected to attend.
SURPRISE GROWTH IN US MANUFACTURING
MANUFACTURING in the US expanded more than forecast in August to the fastest pace since June 2011, a sign the sector will contribute more to the expansion in the second half of the year.
The Institute for Supply Management's factory index climbed to 55.7 from the prior month's 55.4. Fifty is the dividing line between growth and contraction.
Factory activity is getting a boost from demand for cars.