Conor's Feed
Jan 19, 2014

Insight: Revenge of the Irish as mega-merger restores air finance crown

SHANNON (Reuters) – Twenty years after the spectacular collapse of Irish tycoon Tony Ryan’s plane leasing empire, the Emerald Isle has restored its grip on the world’s aircraft fleet with a mega-merger that could pave the way for a wave of multi-billion-dollar IPOs.

The $5 billion takeover of U.S. leasing giant ILFC by AerCap, a firm that emerged from the ruins of Ryan’s pioneering Guinness Peat Aviation (GPA), is set to send ownership of its fleet of 1,000 jets to Shannon, a small town in the west of Ireland where GPA pioneered the plane leasing industry in the 1980s.

Jan 19, 2014

Revenge of the Irish as mega-merger restores air finance crown

SHANNON, Ireland, Jan 19 (Reuters) – Twenty years after the
spectacular collapse of Irish tycoon Tony Ryan’s plane leasing
empire, the Emerald Isle has restored its grip on the world’s
aircraft fleet with a mega-merger that could pave the way for a
wave of multi-billion-dollar IPOs.

The $5 billion takeover of U.S. leasing giant ILFC by AerCap
, a firm that emerged from the ruins of Ryan’s pioneering
Guinness Peat Aviation (GPA), is set to send ownership of its
fleet of 1,000 jets to Shannon, a small town in the west of
Ireland where GPA pioneered the plane leasing industry in the
1980s.

Jan 7, 2014

Ireland draws bumper demand for first post-bailout bond

By Conor Humphries and John Geddie

DUBLIN/LONDON, Jan 7 (Reuters/IFR) – Ireland made a storming return to the international bond market on Tuesday, with bumper demand for the country’s first debt sale since exiting its EU/IMF bailout helping to drive down yields across the euro zone’s periphery.

Investors bid more than 14 billion euros (11.5 billion pounds) for the new 10-year bond sold via syndication, nearly four times the size of the final 3.75 billion euro issue, the country’s NTMA debt agency said.

Jan 7, 2014

Bumper demand seen for Ireland’s first bond sale since bailout

(Adds context, quotes)

By Conor Humphries and John Geddie

DUBLIN/LONDON, Jan 7 (Reuters/IFR) – Ireland looked set for a storming return to the international bond market on Tuesday, with bumper demand expected for the country’s first debt sale since exiting its EU/IMF bailout last month.

The sale of 10-year bonds was launched via a syndicate of banks. No official size or price guidance has been given but sources close to the deal said the bond was likely to be sized at 3 billion euros and priced later on Tuesday at mid-swaps plus 140 basis points.

Dec 19, 2013

Irish economy on sounder footing as bailout ends

DUBLIN, Dec 19 (Reuters) – Ireland’s economy grew more than
twice as fast as expected in the third quarter, thanks to
buoyant construction and investment, putting it on a sounder
footing as it emerges from an international bailout.

After becoming the first euro zone member to complete its
rescue programme last week, Ireland is counting on a lift in
construction and consumer spending to spur on its tentative
recovery next year.

Dec 13, 2013

In landmark for EU, Ireland leaves its bailout behind

DUBLIN (Reuters) – Three years after going cap in hand to international lenders, Ireland has officially ended its bailout, providing a landmark for euro zone efforts to resolve its debt crisis, its finance minister said on Friday.

Ireland sought emergency help three years ago to keep its finances under control and has met the terms of the program, cutting spending and raising taxes to bring down its budget deficit and rebalance the economy.

Dec 13, 2013

Irish government faces post-bailout battle to woo back voters

DUBLIN (Reuters) – After a three-year struggle to convince financial markets that Ireland’s economy is back on track, Prime Minister Enda Kenny’s government now has to make the case to an equally tough audience: the Irish people.

A grueling course of austerity has set Ireland up to become the first euro zone country to exit a bailout this weekend but it has cost the government almost a third of its support, raising pressure to boost spending two years before an election.

Dec 2, 2013

Single supervision to boost bank mergers -Constancio

DUBLIN, Dec 2 (Reuters) – The centralisation of banking
supervision in the euro zone is expected to lead to mergers
among European banks and a stronger reliance on market funding,
European Central Bank Vice-President Vitor Constancio said on
Monday.

Constancio is one of two Executive Board members tasked with
setting up a new banking watchdog under the ECB’s roof, part of
a broader push to more closely integrate the European financial
system to help it weather future crises.

Nov 26, 2013

Irish unemployment drops sharply as bailout exit nears

DUBLIN, Nov 26 (Reuters) – Irish unemployment shrank at its
fastest pace in four years in the third quarter, falling below
13 percent for the first time since a property bust and boosting
the government just as it completes its EU-IMF bailout.

The seasonally adjusted unemployment rate, widely seen as
one of the most important measures of the economy, fell to 12.8
percent from a revised 13.6 percent in the second quarter, the
Central Statistics Office said on Tuesday.

Nov 26, 2013

Irish unemployment drops sharply to four-year low

DUBLIN (Reuters) – Ireland’s unemployment rate fell sharply in the third quarter to below 13 percent for the first time since a property bust brought the economy to its knees, boosting the government weeks before its EU-IMF bailout ends.

The seasonally adjusted unemployment rate, widely seen as one of the most important measures of the domestic economy, fell to 12.8 percent from a revised 13.6 percent in the second quarter, the Central Statistics Office said.