Bank of Ireland Said to Near Junior Debt-For-Equity Offer
This article is for subscribers only.
Bank of Ireland Plc is close to completing an offer that allows junior bondholders to swap their debt for equity in the lender, according to two people familiar with the progress of the negotiations on the plan.
Ireland’s government, which owns 36 percent of the Dublin-based lender, may initially permit the bank to proceed with a voluntary debt-for-equity swap offer, rather than seeking a court order to weaken the terms of the bonds, according to the people, who declined to be identified, because details are not yet complete.