Broadening interest in BoI spurs secondary Coco placement

09 Jan 2013

At least €500m of Bank of Ireland high-trigger contingent capital notes are for sale, as the government takes advantage of strong demand for high yielding FIG products to offload some of its investment in the bank’s 2011 recapitalisation.

The issuer mandated Davy, Deutsche Bank and UBS to manage a secondary placement of the 2016 notes, which convert to equity if the bank’s core tier one ratio falls below 8.25%.

The government bought €1bn ...

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