The Minister for Finance today (19th February 2013) confirmed that agreement has been reached with Great-West Lifeco (Canada Life) for the sale of Irish Life for €1.3 billion with an additional dividend of €40 million being paid to the State prior to completion.
The Minister for Finance, Michael Noonan T.D., today (13th February 2013) published the Finance Bill 2013 and Finance (Local Property Tax) (Amendment) Bill 2013. Details on both Bills are set out in the Notes to Editors below.
Ireland has today (7 February 2013) successfully concluded the ninth review mission of our EU-IMF Programme. In line with each of the previous quarterly reviews, Ireland has met all of the commitments and our continued strong programme implementation has been recognized by the Troika.
Ireland has successfully concluded the final quarterly programme review mission for 2011 with the EU Commission, the ECB and the IMF. In each quarter Ireland has consistently achieved all of the targets set under our programme of assistance.
The Minister for Finance, Michael Noonan T.D., today welcomed the successful conclusion of negotiations which will see the Government dispose of a minimum of €500 million of its €1 billion holding of Contingent Capital Notes (CCN’s) in Bank of Ireland. The exact quantum and price at which this disposal will be conducted will depend on the outcome of a public investor book build exercise to be c
The Minister for Finance, Michael Noonan T.D., today welcomed the successful completion of the sale of the entire amount of the State’s €1 billion holding of Contingent Capital Notes (CCN’s) in Bank of Ireland at a price of 101% of their par value plus accrued interest.
The Minister stated:
09.01.13Minister for Finance welcomes new funds of €850 million available for investment in Irish SME sector
The Minister for Finance, Michael Noonan T.D., today welcomed the National Pensions Reserve Fund (NPRF) announcement of three new long-term funds that will provide equity, credit and restructuring / recovery investment for Irish small and medium-sized businesses (SMEs) and mid-sized corporates.
The Minister said:
“The NTMA’s syndicated issuance today of €2.5 billion of bonds maturing in 2017 is a very welcome and positive development. This auction builds on the successful issuances last year.
The level of demand for today’s auction with €7bn of orders for €2.5bn of issuance was particularly encouraging and was primarily from foreign investors.
The Minister for Finance, Mr. Michael Noonan, T.D. and the Minister for Public Expenditure and Reform, Mr. Brendan Howlin, T.D commented on the end December Exchequer returns issued today, saying;
The Minister for Finance, Mr Michael Noonan, TD, today noted the decision of the High Court to extend the appointment of the special manager at Newbridge for a further six months, on foot of an application by the Central Bank. The special manager will continue to oversee the running of Newbridge Credit Union with a view to strengthening the financial position of the credit union.