BoI bondholder fight falters on 70% LM take-up
Holdouts against Bank of Ireland’s capital generating liability management exercise looked increasingly isolated this week after a higher than expected 70% of subordinated bondholders tendered debt for cash or equity.
Despite doubts over their ability to block sweep-up clauses, however, a rebel group vowed to continue its fight over the deals terms.
"The net result is very pleasing," a banker close to the exercise said. "We had a view that the bondholder group would fight, but in the end
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.