Friday 24 November 2017

ESB plans bond linked to inflation

State-owned power company the ESB says it is planning to issue a new "inflation-linked" bond as part of its financing. Bank of America Merrill Lynch and Goodbody have been hired to assess investor interest.

Inflation-linked bonds are designed to ensure a return to investors regardless of a rise in inflation, because the repayments increase if inflation rises. It's part of a wider move by the ESB to widen its appeal to new types of investor.

Largest shipment at Belfast harbour

BELFAST harbour has received its largest single cargo haul in its 400-year history. The bulk carrier the Royal Breeze, which docked at the weekend, was delivering 56,000 tonnes of coal bound for a power station at Kilroot, Co Antrim.

The cargo will supply Kilroot with enough coal to last 20 days.

Surprise Q3 profit for Citigroup

Citigroup advanced the most among the largest US banks after reporting a surprise third-quarter profit and a surge in bond-trading revenue that beat analysts' estimates.

Third-quarter net income was $468m (€361m), down from $3.77bn a year earlier, the company said. (Bloomberg)

NAMA secures €11m judgments

NAMA has secured judgment orders for more than €11m each against a solicitor, a property company and a businessman over unpaid property loans.

The case, by NAMA company National Asset Loan Management Ltd, was brought against Paul O'Brien, a solicitor with an address at Courtbrack Avenue, South Circular Road, Limerick; Oyster Developments Ltd, with registered offices at The Courtyard, Killarney, Co Kerry; and businessman David Crowe, of Tullig Spa, Killarney.

Irish workers have surge in optimism

IRISH workers are increasingly upbeat about the performance of the business for which they work, with 40pc saying prospects are improving.

A study of 2,400 workers across the world shows Irish staff are more optimistic than many of their European counterparts, including in the UK. Global staffing firm Berkley Recruitment Group's managing director Fergal Brosnan said: "It is great to see optimism in Ireland increasing."

Irish Independent

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