Allied Irish Bank (AIB -3.3%) will offer to repurchase subordinated notes (of which it holds...

|About: Allied Irish Banks, P.L.C.... (AIBYY)|By:, SA News Editor

Allied Irish Bank (AIB -3.3%) will offer to repurchase subordinated notes (of which it holds $3.8B), Finance Minister Noonan says, as the Irish government gets a court OK to amend the debt's terms. Bondholders that don't comply could be forced to accept losses, though the government doesn't plan to impose them on senior bondholders of the viable lenders, including IRE.