The €1.1bn acquisition of Irish property investment firm Hibernia Reit by Brookfield Asset Management is slated to close next Wednesday following a High Court hearing to approve a scheme of arrangement that will give effect to the deal.
Businesses have more than doubled their use of overdrafts in the last year, pushing the amount borrowed via revolving loans and extended credit card debt to nearly €5bn, the highest level in almost seven years.
The Irish Government’s cost of borrowing on the bond markets neared an eight-year high on Wednesday ahead of a highly anticipated meeting of the European Central Bank’s policy setting governing council.