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Bank of Ireland to redeem its 1.3 billion 10.25% preference stock
By Marisa Wong
Morgantown, W.Va., Nov. 23 The Governor and Co. of the Bank of Ireland said it will redeem the remaining 1.3 billion of its 10.25% preference stock issued in March 2009 for 1.3 billion on Jan. 4.
At issuance, the bank said it would not redeem the preference stock prior to January 2016.
The redemption of the 2009 preference stock is an important event for the Bank of Ireland. Their redemption at the earliest possible date is beneficial for our ordinary shareholders, while honouring commitments we gave to the 2009 preference stock investors in 2013, chief executive officer Richie Boucher commented in a press release.
The issuer is based in Dublin.
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