Allied Irish Bank (AIB) offers to buy back €3.7B of its subordinated debt at a 90% discount...


Allied Irish Bank (AIB) offers to buy back €3.7B of its subordinated debt at a 90% discount to par. Any bondholders who refuse those terms will get just a tiny fraction of that, says the bank. It's a sizable haircut for the juniors, but the senior debt owners remain 100% intact.
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