IBRC senior bondholders to be burned

Unsecured senior bondholders in IBRC who still held debt in the bank when it was put into liquidation are likely to take a near-total haircut on their investments.

30th March, 2013

Unsecured senior bondholders in Irish Bank Resolution Corporation (IBRC) who still held debt in the bad bank when it was put into liquidation last month are likely to take a near-total haircut on their investments when the wind-up process is completed later this year, according to market and official sources.

Holders of the remaining €145 million of senior unsecured notes left in the institution will rank with other unsecured creditors, such as service providers or...

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