Option to burn junior BoI bondholders now off table
Finance Minister Michael Noonan has decided against burning some of the junior bondholders at Bank of Ireland.
Last week the Finance Minister announced he was considering the option, as the bank works to raise funds.
BoI been aiming to reach a capitalisation target of €350m by the end of this month, under plans announced earlier this year.
However the bank today said it had raised the money through a number of other measures, including buying back mortgage bonds at a discount.
