Allied Irish Banks, p.l.c. ("AIB") - Subordinated Liabilities Order issued by the High Court of Ireland on 14 April 2011
(Thomson Reuters ONE) -
For Immediate Release 1 July 2011
Allied Irish Banks, p.l.c. ("AIB")
Subordinated Liabilities Order issued by the High Court of Ireland on 14 April
2011
Allied Irish Banks p.l.c. ("AIB") [NYSE:AIB] notes today's settlement of the
proceedings before the High Court of Ireland (the "Court") involving Aurelius
Capital Master Ltd (and related parties) and the Minister for Finance of
Ireland. The Court has today declared that the subordinated liabilities order
issued by the Court on 14 April 2011 under the Credit Institutions
(Stabilisation) Act 2010 (the "SLO") in respect of (i) AIB's £368,253,000 12.5
per cent. Subordinated Notes due 25 June 2019 (ISIN: XS0435957682) and (ii)
AIB's ?868,518,000 12.5 per cent. Subordinated Notes due 2015 (ISIN:
XS0435953186) (together, the "Subordinated Liabilities") is effective as of 22
April 2011 to amend the terms of the Subordinated Liabilities as follows:
(i) any interest that may fall due on such liabilities will only be payable at
the option of AIB (in its sole discretion); and
(ii) the maturity date of each such liability has been extended to 25 June
2035.
Further to AIB's announcement of 22 June 2011 and in accordance with the
amendments effected by the SLO, no payment of interest which would otherwise
have been due on 25 June 2011 will be made by AIB in relation to the
£368,253,000 12.5 per cent. Subordinated Notes due 25 June 2019 (ISIN:
XS0435957682).
AIB notes that the SLO is now effective as from 22 April 2011 in respect of all
18 series of Notes which were the subject of the Tender and Consent Memorandum
dated 13 May 2011 issued by AIB.
-ENDS-
For further information please contact:
Alan Kelly Ronan Sheridan
Director of Corporate Affairs & Marketing Group Press Officer
AIB Group AIB Group
Dublin Dublin
Tel: +353-1-6412162 Tel: +353-1-6414651
email: alan.j.kelly(at)aib.ie email: ronan.j.sheridan(at)aib.ie
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Allied Irish Banks, p.l.c. via Thomson Reuters ONE
[HUG#1527997]
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Datum: 01.07.2011 - 19:08 Uhr
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News-ID 56078
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