Banks announce plans to burn junior bondholders




Bank of Ireland, the EBS Building Society and Irish Life and Permanent have announced plans to burn their junior bondholders.

The three lenders plan to get investors to share some of the cost of recapitalisation by paying them between 10 and 20 cent in the euro for their debts.

The Finance Minister Michael Noonan has said the burden sharing announced today is the minimum acceptable to the Government.

More in this Section

Dealz eyes seven more stores as discount retailer prepares to open in Clonakilty Dealz eyes seven more stores as discount retailer prepares to open in Clonakilty

Phil Hogan: EU will stand firm against Washington over trade disputesPhil Hogan: EU will stand firm against Washington over trade disputes

ISME says government should focus on grants, not loans, for small businessesISME says government should focus on grants, not loans, for small businesses

Oliver Mangan: As stock markets soar, others are less convinced about the Covid-19 reboundOliver Mangan: As stock markets soar, others are less convinced about the Covid-19 rebound


Lifestyle

Liz O’Brien talks to Niall Breslin about his admiration for frontline staff, bereavement in lockdown, his new podcast, and why it's so important for us all just to slow down.Niall Breslin talks about losing his uncle to coronavirus

Podcasts are often seen as a male domain — see the joke, 'What do you call two white men talking? A podcast'.Podcast corner: Three new podcasts from Irish women that you should listen to

Esther McCarthy previews some of the Fleadh’s Irish and international offerings.How to attend the Galway Film Fleadh from the comfort of your own couch

Whether you’re on staycation or risking a trip away, Marjorie Brennan offers suggestions on novels for a wide variety of tastesThe best fiction books for the beach and beyond this summer

More From The Irish Examiner