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The State Bank run offered 20 cents of euro holders for the. 1 €6bn subordinated debt. If holders take the offer their debt will be exchanged for a person aged bonds guaranteed by the Government which can be cashed in a year.

Anglo Irish, who is desperate for capital, already bought back the junior Debt Paydown EUR 400 million. The Ireland is confronted with a bill of over 50 billion € for lenders and wants to ensure that the burden is shared with the holders of subordinated bonds.Exchange, advised by JP Morgan Cazenove supply comes after Finance Minister Brian Lenihan has promised to "problem" Junior holders taking a loss of their week investissements.Cette Michel Barnier, combative Europe's market leader stated that creditors in the absence of banks will have to accept more than a burden when these banks need bailout.

However, the holders of bonds, who complained that they were obtained an agreement first, says that treatment could have an impact in the long term on the ability of banks to find the financement.Avant agreement, subordinated debt rated 28 c already low.

The Irish Government has promised to take €11 to support the Anglo month last on the top of the. 22 €9bn, that he has already pumped into since enter lender in January 2009.

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