Irish bankers are smiling

Bank of Ireland comes to Asia to launch its inaugural benchmark covered bond deal.

Bank of Ireland is in Beijing today meeting potential investors for its upcoming inaugural triple A rated covered bond deal. The bank has already visited Japan, Korea, Taiwan and Hong Kong and will finish the week in Singapore. A concurrent roadshow is also traveling through Europe.

Bank of Ireland is the latest European bank to issue covered bonds, although it is the first Irish bank to do so under Ireland's Asset Covered Securities ACS law. This issue is very important for us as it will fund our mortgage growth for the next few years, says Denis Donovan, chief executive of Bank of Ireland's wholesale financial services group.

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