Irish Life & Permanent, Ireland's largest mortgage lender, said it refinanced €3 billion of debt coming due this year.
"The facilities have been provided by a wide range of investors, with maturities out to a maximum of three years," the Dublin-based lender said in a statement.
Irish Life also said it sold €100 million of bonds. The debt will count as lower Tier 2 capital, required by regulators as provision against losses.
The bank's shares rose 18 per cent on the news but by 2.25pm had eased back to €5.23, a gain of 13.5 per cent.
