Friday, May 27, 2011

Bank of Ireland Closes In On Bond Holder Offer-Sources

By Eamon Quinn
Of DOW JONES NEWSWIRES
DUBLIN (Dow Jones)--Bank of Ireland PLC, one of Ireland's last surviving major lenders, will in the coming days present the results of a plan--driven by the Irish government--to persuade bond holders to accept big discounts on EUR2.75 billion of its subordinated debt, industry sources said Friday. The government, which already owns 36% of Bank of Ireland, is hoping that a debt management offer, including a proposal for holders to swap their

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