Bank of Ireland launches two-pronged, €1.9bn state aid repayment package
Bank of Ireland launched a multi-pronged capital package on Wednesday morning, with the bank and its shareholders selling a total of €1.9bn in stock that will repay state aid.
The bank is selling €580m of new ordinary shares, and will use the proceeds to redeem €537m of the preference shares, issued to the Irish state in 2009. The rest of those shares, worth €1.3bn, will be sold to the market in a concurrent deal.
Both are expected to
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