Bank of Ireland is nearing a deal for the government to provide capital without increasing its stake in the lender, Bloomberg reports. Ireland, which owns 36% of the bank, may buy nearly €1.4 billion of non-voting shares in the Dublin-based lender.

The securities will be transformed into stock if the bank failed to raise the same amount in a later rights offering to repay the government. The bank has been ordered by regulators to raise €2.2 billion by the end of a February deadline. The country’s central bank will not complete a review of lenders’ capital and liquidity until March.

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