Fighting begins over AIB subordinated debt court ruling
Wrangling over the Irish High Court’s ruling to change the terms of Allied Irish Banks’ subordinated securities has begun, with a legal challenge filed and ISDA being asked this week to consider whether a restructuring event has taken place.
The court handed down a Subordinated Liabilities Order (SLO) on April 14, which changed the terms of 18 of AIB’s subordinated securities, extending maturity dates and making coupon servicing discretionary.
Two subordinated bondholders took advantage of a short window to file challenges to the order, while ISDA was ...Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: subs@globalcapital.com
Or sign up for a trial to gain full access to the entire site for a limited period.
Corporate access
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.
