Nationalized 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.
Lenihan also told parliament that Ireland will return to the international bond markets in January.
Ireland cancelled its auctions for the rest of this year to give the government breathing space to come up with a four-year plan to tackle with worst budget deficit in the European Union.
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