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

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

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.