Anglo Irish Bank Corp. Chairman Alan Dukes said the lender “we’ll do what we are told” on the issue of senior bonds. In a parliamentary hearing in Dublin today, he said it’s a question for the government to decide.
Irish Prime Minister Brian Cowen ’s party lost a special election for a vacant parliamentary seat to a candidate who said he wants to “burn” holders of bank debt as the nation seeks an international bailout.
Anglo Irish Bank Corp., which helped drive the country’s financial system to the brink of collapse, said its first-half loss narrowed on declining loan losses after the lender sold assets to the country’s so-called bad bank.
Anglo Irish Bank Corp. bondholders plan to block a proposed debt exchange that imposes losses of more than 1.3 billion euros ($1.8 billion) as they seek to force the nationalized lender to improve the offer.