Anglo get 172 Million from Government

Anglo got some of their capital injection money today. Seeing as how things are going so swimmingly I just thought Id mark the event with a post lest we forget.
We all hear about these anouncements of capital injection, I think when the event actually comes to pass thats the real kicker.
Congratulations FF/Greens and Anglo execs …thats more than 17 times the estimated rollout cost of the HPV Vaccine
your greed, incompetance and corruption are more important thant the lives of young females in Ireland
have a nice weekend .

ise.ie/app/announcementDetails.asp?ID=10206874

More important by a factor of how many, for the interesting record…?

Does that mean all future coupons are unlikely to be paid? Coupon is 5.219%. The most recent price I have on this is 20.56, I don’t have live pricing on it so I’m not sure what it’s doing now.

Dunno verbatim. The EU guideline is quite specific that undated subordinate debt of nationalised banks should not pay coupons. But isn’t existing subordinate debt likely to be converted into equity if Anglo is ever refloated? Would the haircut on the conversion be 80%? If there is a chance that this would happen and that the rate would be better than 20%, then this would be a buy?