Sign up to The Irish Times Archive (1859 - 2008)My Account »
Thu 06 Jun 2009AIB bond exchange to boost capital
Shares in Allied Irish Banks rose by over 9 per cent in Dublin this morning after it announced a plan to exchange up to €2.7 billion worth of perpetual bonds for a new bonds in a move that may improve its core tier 1 capital by up to 10 per cent.
At 9.30am AIB shares were trading at €2.17, a gain of 9.3 per cent and bringing the share price to levels last seen in early January. At this share price the bank has a market capitalisation of €1.9 billion, some €200 million behind Bank of Ireland.
Choose a Subscription type - required
