Oireachtas Joint and Select Committees

Wednesday, 5 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Bank of Ireland

3:55 pm

Mr. Richie Boucher:

I met probably over 200 potential investors in the bank, a wide range of them. I presented the bank's pitch book, which was a publicly disclosed document. We then had roughly 20 investors, and different investors expressed sufficient interest at that time, in our opinion because the Department of Finance was underwriting it and they could depend on the Department of Finance to have the wherewithal to follow through their investment. Certain criteria were set out for the investors, including that the Government would not backstop any investment.

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