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FT : Ireland’s banks brace for debt settlement


Dreaded_Estate

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Sep 5, 2007
Messages
3,719
Front page of the FT again today



Eurozone test over €25bn repayment

Irish banks are gearing up to repay more than €25bn of debt in the coming month, in what could prove an important test of investor sentiment towards the broader eurozone financial sector.

Bond markets will begin to re-open in Europe this week after the summer hiatus. The Irish redemptions have prompted concern over whether a slew of bonds from the country, to refinance the maturing debt, could weigh on the wider market and affect investor appetite for other bank borrowing.
But increasing concerns about the health of Ireland’s economy have raised the premium it pays over benchmark German borrowing costs to record levels, which will push up the price the country’s banks must pay to refinance their debt.

“There is a concern that there’s a lot of need to issue by Irish and Spanish banks this month [September], and when they do come to the market, what price they will have to pay,” said Rohith Chandra Rajan, an analyst at Barclays Capital.
And more..
Ireland seeks to wean banks off state guarantee


Adding further to Fridays FT editorial calling for senior bondholders to share some of the losses
 

rockofcashel

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Joined
Jan 23, 2005
Messages
7,956
Website
www.sinnfein.ie
Nah, no problem, we've loads of money.. we turned the corner don't ya know
 

hellsbells

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Mar 8, 2009
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2,031

yehbut_nobut

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Aug 16, 2007
Messages
523
Nah, no problem, we've loads of money.. we turned the corner don't ya know
If you turn 4 corners one after another, doesn't that leave right back wher you started?
 

eoghanacht

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Joined
Apr 18, 2006
Messages
33,340
Is this a bit like Lisbon II, vote yes for jobs.

Or in this case

Pay up or you'll never be able to borrow from the markets again.

Still wating on those jobs BTW
 

hellsbells

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Mar 8, 2009
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MPB

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Nov 27, 2009
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4,465
The ECB will stump up, as the 25 billion is probably owed to German, French and British Banks and saving them through lending to us at a premium, is EU policy.
 

Andycap

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Feb 22, 2012
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1,277

hammer

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Jul 6, 2009
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58,514
No idea. That is why I posted it. It would seem easy enough to turn it around without going down such a route.
 

Andycap

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Joined
Feb 22, 2012
Messages
1,277
Read it again and it says "qualifying liabilities" which are unsecured. Still, how do you run up that amount of unsecured debt with decent incomes?

Need more detail mr. irish times!!!
 
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