Permanent to raise £100m

IRISH Permanent is planning to raise £100 million in a syndicated loan being arranged by UBS, with the new funds earmarked for mortgage and other lending. The loan is being syndicated to both domestic and international banks. The five-year loan is the fifth time that Irish Permanent has raised funds on international capital markets and carries an interest rate of 0.15 of a percentage point over Dublin interbank offer rates, currently around 5.12 per cent.