Anglo Irish Senior Bonds Fall on Bets Investors Will Lose Money
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Anglo Irish Bank Corp. government-guaranteed senior bonds fell for a sixth day as investors wagered they’ll be forced to share the cost of bailing out the nationalized lender with taxpayers.
Anglo Irish’s floating-rate notes due 2013 fell to 83.1 cents on the euro from 95.8 a week ago and its 2014 securities dropped to 81.4 cents from 99.2 cents on Sept. 17, according to so-called fair value prices on Bloomberg. The notes are covered bonds supported by real-estate loans and the borrower’s pledge to pay, as well as government backing, which expires at the end of this month.