Bonds that replaced notorious ‘promissory notes’ used to bailout the bank have now all been redeemedThe Central Bank of Ireland has gotten rid of the last of the promissory notes linked to the failed Anglo Irish Bank. The National Treasury Management Agency (NTMA) today bought back and cancelled an Irish floating rate treasury bond, or note, worth €534m, which was due to mature in 30 years’ time. “This development brings to an end a specific consequence of the banking crisis of more than a decade ago and has also happened ahead of the original schedule for the disposal of the floating rate bonds,” Mr McGrath said. Anglo Irish was later merged with the State-owned Irish Nationwide Building Society in 2011 to form a new company, the Irish Bank Resolution Corporation (IBRC). "In turn, this allowed the NTMA to replace the floating rate bonds with fixed-rate Irish government bonds, issued to investors, borrowed at historically low interest rates.”

Source: Irish Independent September 07, 2023 19:29 UTC