Dukes refuses to talk to dissident bondholders

NATIONALISED Anglo Irish Bank’s chairman Alan Dukes has ruled out talking to a dissident group of bondholders and called on them to accept a deeply discounted €1.6 billion debt exchange.

Bondholders in Anglo Irish Bank are seeking to block the lender’s proposed exchange of subordinated debt at a discount of 20 cents per euro.

Addressing reporters after delivering a speech to chartered accountants in Dublin, Mr Dukes said he was not prepared to consent to the consortium of bondholders’ demand for discussions aimed at reaching a “fair and consensual resolution”.