Anglo bondholders could be paid as first water bills arrive

Finance Minister Micheal Noonan is facing criticism after he admitted that junior Anglo bondholders may be handed a €280m payout.

Finance Minister Michael Noonan is facing criticism after he admitted that junior Anglo bondholders may be handed a €280m payout.

Michael Noonan

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The payout comes just as the water charges are imposed.

Irish Examiner political correspondent Shaun Connolly says the timing of the payout could not be worse for the Government.

"What makes this even more politically explosive for the Government is that just as they're trying to regain the initiative after the chaotic introduction of water charging, the first water bills are due to land, with grim irony, from April 1st - just about the time that these junior bondholders could get a windfall back," he said.