By Joe Brennan
Feb. 1 (Bloomberg) -- Bank of Ireland Plc can re-start
paying discretionary coupons from today after a European
Commission ban on such payments by the lender ended, Glas
Securities said.
“Based on this, Bank of Ireland U.K. Holdings 7.4 percent
Tier 1 and its 6.25 percent Tier 1 bonds will pay any deferred
coupon payments and accrued interest payments due from today,”
the Dublin-based fixed-income firm said today in a note. “Both
coupons are due to be paid in early March.”
The lifting of the ban, issued last year as the E.U.
reviewed the lender’s restructuring plan, also clears the way
for the payment in cash of the state’s 10.25 percent coupon on
its 1.8 billion euros of Bank of Ireland preference
shares on Feb. 16, it said.