Promissory note deal likely within days

A deal on the restructuring of promissory note payments to the former Anglo Irish Bank is likely to be struck within days, according to Central Bank Governor Patrick Honohan.

However, he added that “some technicalities still need to be resolved” ahead of the Mar 31 deadline.

More than €28bn in outstanding funding is scheduled to be pumped into the Irish Bank Resolution Corporation (IBRC) over the next 20 years, via annual promissory note payments. The second €3.1bn tranche is due to be paid at the end of this week.