Connect to share and comment

Ireland to sell 500 mln euros of Bank of Ireland bailout notes

Thomson ReutersEnlarge
(/GlobalPost)

DUBLIN, Jan 9 (Reuters) - Ireland plans to sell at least 500 million euros ($653 million) worth of contingent capital notes that were used to recapitalise Bank of Ireland to private investors in a secondary placement, the department of finance said on Wednesday.

The Irish government is currently the sole holder of the original 1-billion-euro placement, which pays a coupon of 10 percent.

The joint lead managers have received indications of interest from private investors, including some existing investors in Bank of Ireland, to cover the placement of 500 million in aggregate principal amount, Bank of Ireland said in a statement.

http://www.globalpost.com/dispatch/news/thomson-reuters/130109/ireland-sell-500-mln-euros-bank-ireland-bailout-notes