Bond Markets

Dáil Éireann Debate, Wednesday - 12 December 2012

Wednesday, 12 December 2012

Ceisteanna (48)

Pearse Doherty

Ceist:

48. Deputy Pearse Doherty asked the Minister for Finance in respect of the €10 million of subordinated bondholders at what was Irish Life and Permanent, whose bonds fell due for payment on 4 December 2012 (details supplied) issued on 4 December 2000 denominated in euros, if he will confirm if these bonds were repaid; if so, when; if they were repaid in full; if so, the efforts that were made to secure discounts or haircuts on the sums paid. [55773/12]

Freagraí scríofa

Minister for Finance

As the Deputy will be aware the subordinated bonds in issue are set out in the Annual Report each year. No such bond was listed in Page 151 of the 2011 Annual Report. I have been informed that the Deputy may be referring to the €10 million subordinated bond issued in 2000. As the bond was redeemed in 2008 no payment was made on 4 December 2012. Since the bond had already been redeemed no discounts or haircuts could have been applied to the nominal value.