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AIB's €395m debt deal

STATE-controlled AIB has returned to the debt markets for the first time since the crisis hit, raising €395m in bonds using mortgages in the bank's €3bn UK portfolio as collateral.

It raised the three-year sterling loans on an AAA rating from a "range of international investors" in the lender's first public securitisation of prime UK mortgages. The deal follows Bank of Ireland and Irish Life & Permanent's successful debt issues last year.