BoI sub holders 'too optimistic' on equity exchange

31 May 2011

Despite a collapse in secondary prices on Tuesday, holders of Bank of Ireland subordinated debt may still be too optimistic about the terms of the bank's debt for equity exchange, according to market participants

But they also reckon that senior bondholders are probably safe for now.

Bank of Ireland’s subordinated securities plummeted in value on Tuesday after the bank said it would launch a liability management exercise to help fill a Eu4.2bn core tier one capital hole. The announcement came as ...

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