Wednesday, 2 November 2011

Laura Noonan: Here's what is at stake if we don't repay those Anglo bondholders - Analysis, Opinion - Independent.ie

Laura Noonan: Here's what is at stake if we don't repay those Anglo bondholders - Analysis, Opinion - Independent.ie
If a bank fails to honour one of its bonds, the rest of its bonds become payable immediately. In Anglo's case, there will be about €12.5bn on bonds outstanding once today's $1bn payment goes through. The last of those bonds don't fall due until 2049, but Anglo could face demands for all of them today if it didn't make the $1bn payment...
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