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BusinessWeek: Anglo Irish to Swap 90 Percent of Subordinated Debt (December 21, 2010)
Investors agreed to exchange 307 million euros ($404 million) of its so-called lower Tier 2 bonds due 2014 and 459.5 million euros of similarly ranked notes maturing 2016 at an 80 percent discount to par value, the Dublin-based bank said in a statement. By accepting the swap, holders agreed to changes in conditions that will wipe out investors refusing to take part.

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Migeru (migeru at eurotrib dot com) on Sun Feb 6th, 2011 at 01:20:08 PM EST

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