PURCHASE AGREEMENT in connection with €1,300,000,000 10.24 per cent. Perpetual Non-Cumulative Notes (the “Notes”) issued by Baggot Securities Limited and secured over 1,300,000,000 units of the 2009 Preference Stock of The Governor and Company of the...Purchase Agreement • March 31st, 2014 • Governor & Co of the Bank of Ireland • Commercial banks, nec
This Agreement sets out the arrangements between the Issuer, the NPRFC, the Minister, the Company and the Banks in relation to the issue of the Notes by the Issuer and the delivery of the Preference Stock by the NPRFC to the Issuer under which, inter alia, the Banks will severally but not jointly and severally procure purchasers, failing which purchase and pay, for the respective principal amount of the Offer Notes (in respect of each Bank, the “Relevant Notes”) set out against their name in Annex A from the Issuer. As used herein, “Offer Notes” means €1,300,000,000 in principal amount of the Notes or such greater principal amount of Notes as may be agreed by the parties hereto in accordance with Clause 1(c).
