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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Permanent Tsb Group Holdings Plc | LSE:IL0A | London | Ordinary Share | IE00BWB8X525 | ORD EUR0.50 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.38 | 2.36 | 2.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIL0A TIDM73HR
RNS Number : 1169M
Permanent TSB Group Holdings PLC
12 September 2019
12 September 2019
PERMANENT TSB GROUP HOLDINGS PLC
SALE OF NON PERFORMING LOAN PORTFOLIO
Permanent TSB plc ("PTSB", "the Bank"), a wholly owned subsidiary of Permanent TSB Group Holdings plc, has agreed to sell a Non Performing Loan ("NPL") portfolio ("Glas Tranche II") to the retail credit firm Start Mortgages DAC ("Start Mortgages"), in co-operation with LSF Irish Holdings 101 DAC, both affiliates of the Lone Star Funds. Start Mortgages has been authorised by the Central Bank of Ireland since November 2008 and will become the servicer of the Glas Tranche II Portfolio when the transaction completes.
The portfolio has a gross balance sheet value of EUR506 million and a net book value of c. EUR274 million. In the year to December 2018, this loan portfolio generated net interest income of c. EUR6 million. At completion, PTSB will receive cash consideration of EUR264 million. The proceeds will be used for general corporate purposes.
This transaction will reduce the overall NPL ratio at PTSB from c. 10% to c. 7% and increase the Common Equity Tier 1 Ratio by c. 30bps.
Ends
For further information, please contact: Eamonn Crowley Nicola O'Brien Leontia Fannin Chief Financial Officer Head of External Head of Corporate Affairs eamonn.crowley@permanenttsb.ie Reporting & Investor & Communications +353 1 669 5354 Relations leontia.fannin@permanenttsb.ie Nicola.OBrien@permanenttsb.ie +353 87 973 3143 +353 1 669 5283
Note on forward-looking information:
This Announcement contains forward-looking statements, which are subject to risks and uncertainties because they relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Group or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements referred to in this paragraph speak only as at the date of this Announcement. The Group undertakes no obligation to release publicly any revision or updates to these forward-looking statements to reflect future events, circumstances, unanticipated events, new information or otherwise except as required by law or by any appropriate regulatory authority.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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September 12, 2019 09:00 ET (13:00 GMT)
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