When most in our media talk about the bank bonds at all (which is rarely) they say they've nearly all been paid at this stage. Not true of course - over €10bn already paid out by our five banks this year, €9bn to go before year's end; a total of €55bn over the years 2012-2015 (incl.) which averages out at nearly €14bn/yr, all bled from the crippled banks of an ailing economy - this sum does NOT include the truly odious Promissory Notes of €3.1/yr.
When this is pointed out to them they then say - 'Ah but most of the remaining bonds are government guaranteed'. Well, as of Mar 1st, a couple of months ago (apols, don't have time to update the figures), in the five remaining banks (Anglo, AIB, BoI, EBS, IL&P) there was still nearly €13bn outstanding in subordinated and unsecured debt. Question though - for what were all those new 'government guaranteed' bonds taken out? To pay other bonds that were coming due, more than likely.
Anyway, take a look at this week's 'Dirty Dozen'; note the senior unsecured Anglo bonds, four over the next four days totalling €56m, another 'maturing' on May 15th, £60m (pounds sterling) which comes in at around €73.6m at today's rates - that's nearly €130m from Anglo in the next dozen bonds.
Irish Life & Permanent - which we also own - also features, a bond of €52m, as does EBS, another of our fine banks, a mere €1.84m - sure that wouldn't even get you a down payment on a Ministerial pension.