Government to sell up to €1bn of Bank of Ireland bond

on 09/01/2013 09:10:41

The Department of Finance is preparing to sell up to €1bn worth of a fund invested in Bank of Ireland.

Two years ago, the Government injected money into the bank in what is called a "contingent capital bond" - money that could be used if the bank's reserves fell below a certain level.

The bank and Department said this morning that international investors have expressed interest in buying out this bond.

Part of the interest is coming from investors who bought into the bank last year.