Allied Irish Must Pay $1.8 Billion of Bonds Early by Year End
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Allied Irish Banks Plc, struggling to raise the capital it needs to stay out of government hands, must meet the equivalent of about $1.8 billion of early bond repayments before the end of the year.
Ireland’s second-largest lender, which has a market capitalization of 418 million euros ($569 million), was able to raise debt this year by giving buyers the right to sell the notes back at face value at set dates prior to final maturity, according to data compiled by Bloomberg. Today the bank said an investor requested repayment of 120 million euros of its floating-rate bonds due in February at the Nov. 30 put date.