Buoyant speculative market for IBRC bonds despite move to liquidate bank

There is a buoyant speculative market for IBRC bonds despite the Government’s move to liquidate the controversial bank.

XAIA Investments, a Munich-based boutiqueinvestment house that holds about €170m worth of subordinated bonds in IBRC, which it has taken over from Assenagon asset management, confirmed that they had received a number of offers from interested parties looking to buy their bonds.

Assenagon won a court case in London which saw the full value of their bonds restored following the Government’s attempts to force losses on them.