Sign up to The Irish Times Archive (1859 - 2008)My Account »
Tue 06 Jun 2009AIB debt exchange will improve quality of capital in reserves
ALLIED IRISH Banks (AIB) has bolstered the loss-absorbing capital in its reserves by approximately €1 billion following a debt swap.
Under the exchange, the bank will issue €1.3 billion worth of new, lower tier 2 debt in exchange for €2.4 billion of bonds which were discounted at between 50 per cent and 67 per cent of their face value.
Choose a Subscription type - required
