Irish bank debt fears "overdone" says RBS

Ireland’s banking system is “improving at a faster pace compared to the rest of the periphery” in Europe and fears that senior bank debt face losses are “overdone,” said RBS analysts.

5th April, 2012
Irish bank debt fears "overdone" says RBS
Fears that senior bank debt face losses are “overdone,” said RBS credit strategists.

Ireland’s banking system is “improving at a faster pace compared to the rest of the periphery” in Europe and fears that senior bank debt face losses are “overdone,” according to credit strategists at Royal Bank of Scotland Group.

“We recommend buying Bank of Ireland senior unsecured 4.625 per cent 2013 bonds,” said analysts including Alberto Gallo, head of European Macro-Credit Research, and Phoenix Kalen, a credit strategist, at RBS...

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