Bank of Ireland (BoI) is creating a plan that will allow junior bondholders to swap €2.8 billion in debt for shares in the bank, Reuters reports. The Irish lender is also planning a rights issue and a private placement.
UBS, Deutsche Bank and Credit Suisse have been named as advisers by BoI on its capital-raising plans. The Irish central bank ordered BoI to raise €5.2 billion in capital by the end of July, adds Bloomberg.
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