BoI hopes to boost core tier one with LT2 exchange
Bank of Ireland on Tuesday asked investors to exchange up to Eu2.9bn equivalent of callable lower tier two securities for two new 10 year bullet euro or sterling lower tier two deals.
Deutsche Bank and UBS are handling the exercise which, if all the bonds are exchanged, would give BoI a capital gain of around Eu730m, say banking analysts.
There is a strong incentive for bondholders to exchange, given that the bank has said that any further call decision on
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