Noonan: Timing of junior-bondholder BoI talks 'pure coincidence'

The Finance Minister has said his proposal to burn junior bondholders at Bank of Ireland is not a ploy to win back support for Budget 2012 from backbenchers.

Michael Noonan said the possibility of imposing losses on some subordinated debt in an effort to raise €350m by the end of December has been in the pipeline for months.