Anglo redeems senior bond holders

On 30th June last, Anglo Irish had €16 billion in senior debt securities issued.€7.9 billion bonds were due mature on 30th September. So what happened? The bank had three choices – issue new bonds, roll over the bonds or access cash through the central Bank. It appears that the ECB paid for these bonds under the government guarantee. This is further evidence that the 30th September 2008 decision was wrong. It appears that the owners were largely German banks. I still think that this is the key to the reason why Anglo was nationalised rather then let go.The “Lenihan’s secret 8 billion payment to Anglo investors” on the front of the Irish Daily Mail is way over the top. This is night follows day stuff because of the previous decisions.