Anglo Irish to buy back subordinated debt at discount

DUBLIN, Oct 20 (Reuters) - Nationalised lender Anglo Irish Bank will buy back its subordinated debt at a big discount, Finance Minister Brian Lenihan said on Wednesday.

'I understand that the management at Anglo will be carrying out an exercise to repurchase the debt at a very substantial discount,' Lenihan told parliament.

(Reporting by Carmel Crimmins) Keywords: ANGLOIRISHBANK/BONDS ([e-mail]; Reuters Messaging: [e-mail]; [phone]) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.