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Note: Bank of Ireland had 44.67% of its C$400m 2015 lower tier two issue submitted for exchange to an eight year non-call three issue, paying a coupon of 8.5%, at a ratio of 81.25%. This means Bank of Ireland will issue a face value of C$145m in the new bond. BofI opened the offer on September 7, and published the results on Thursday.

EU state aid rules prevented BofI from calling its 2015 lower tier two this September, because it is still a recipient of Irish Republic aid....