Securitisations

Irish Life & Permanent has undertaken a number of securitisations of mortgage loans as part of the Group's strategy to diversify its sources of funding.

Five of the seven securitisations undertaken to date relate to the Group's UK mortgage business, Capital Home Loans Ltd. These securitisations have been issued under the ‘Auburn’ brand name, and three remain outstanding. The other two mortgage securitisations were in respect of loans originated in Ireland and these have been issued under the ‘Fastnet’ brand name, and of these one remains outstanding.

Under the terms of these securitisations, the rights of the providers of the related funds are limited to the mortgage loans in the securitised portfolios and any related income generated by the portfolios, without recourse to Irish Life & Permanent Group Holdings plc.

Details of each of the securitisations are set out below.

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Irish Life & Permanent Group Holdings plc - Incorporated and registered in Ireland. Registered office: Irish Life Centre, Lower Abbey Street, Dublin 1. Registered No: 474438.

Irish Life & Permanent Group Holdings plc is a mixed financial holding company supervised by the Central Bank of Ireland under the Financial Conglomerates Directive, and is the holding company for regulated entities in the IL&PGH plc group.