Results 12,081-12,100 of 26,037 for speaker:Kieran O'Donnell
- Seanad: Central Bank (National Claims Information Database) Bill 2018: Second Stage (12 Dec 2018)
Kieran O'Donnell: Next Tuesday.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: I welcome Mr. Masding, Mr. Ryan and their colleagues. I wish to speak about Glenbeigh and its structure in the prospectus. Is it an Irish-registered entity? Who are the shareholders? How does the board work? What rate of return was it offering to potential investors? Why has Permanent TSB retained the 5% rate? I am trying to find out why this was set up and how it works. In the event...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: What is the term of the bonds under the prospectus?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: In regard to the securitisation and the bonds, are they of varying duration or are they all of similar duration?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: I need Mr. Crowley to help me to understand how Permanent TSB has structured this so the funding that is being provided to the vehicle is long-term in nature. We do not want a situation where Glenbeigh bondholders turn around and say, "We want our money back tomorrow", and suddenly the whole issue of setting up something as a long-term vehicle does not hold water. I need Mr. Crowley to help...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: I am dealing purely with the money provided to Glenbeigh. The year 2057 is almost 40 years away. What is the minimum duration of a bond under the prospectus?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: How much in total is Glenbeigh raising by way of bonds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: Will Mr. Crowley give me a breakdown of when the six-year loans have to be repaid? What percentage are six-year bonds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: I accept that. Legally, the minimum duration of a bond is six years.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: What percentage of the €900 million is six-year bonds? Can Mr. Crowley give me a breakdown as to whether, say, half of it is a bond that matures in 20 years? I need to get a handle on that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: Mr. Crowley has not answered my question. Legally, I am interested in matching long-term funding with long-term loans.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: Is there a minimum maturity date?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: Could the bondholders turn around in six years time and say they want their money back?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: Could the bondholders who provide the €900 million come along in six years time and say, "We want repayment of our €900 million today"? I want a "Yes" or "No" answer.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: Mr. Crowley is saying the minimum period they can be repaid in is six years. Who does control lie with to determine over what period they can be repaid? It is a very straightforward question. Mr. Crowley is saying they can be repaid-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: With regard to Pepper, we have a vehicle whereby €900 million is raised. That is then with Glenbeigh and it uses that to purchase the loans from Permanent TSB.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: Effectively, the bonds can then be traded - they are marketable securities.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: No. Effectively, Glenbeigh itself-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: The money is there.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Kieran O'Donnell: Why is Permanent TSB retaining 5%?