British investment firm Attestor Capital, which owns 17 per cent of Irish mortgage lender Dilosk, has abandoned plans to buy a Dublin-based covered bonds bank due to conditions that regulators were insisting on to approve the deal. Irish-based EAA Covered Bond Bank, which was originally part of failed German lender WestLB, was put on the market in 2016 and a deal was reached with Attestor the following year. “The sale of the EAA subsidiary EAA Covered Bond Bank (CBB) in Ireland cannot proceed as planned,” EAA said in a statement posted on its website on Tuesday. EAA Covered Bond Bank will now be wound up. The Irish bank mainly holds bonds issued by public sector borrowers in Europe.

Source: The Irish Times April 01, 2020 02:26 UTC