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AIB reopens Irish securitisation market

Bank carries out first unguaranteed Irish bank financing since 2009 – but has to opt for UK collateral

Allied Irish Bank has become the first Irish bank to fund itself on the open debt markets without a state guarantee since 2009 by launching a new structured finance issue.

The bank has carried out a £316.6m securitisation of mortgage loans to borrowers in Northern Ireland and the UK mainland, in an exercise named Tenterden.

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