* Bank will address “unique” difficulties with new offer
* Bond represents 3 pct of those bank hitting with losses
* Bank says has resolved legal action taken by pensioner (Adds details)
DUBLIN, June 28 (Reuters) - Bank of Ireland (BoI) terminated a heavily discounted debt-for-equity offer on a junior bond on Tuesday due to administrative difficulties, paving the way for a new offer at a future date.
The bond, originally sold by the Bristol & West Building Society, which was taken over by BOI in 1997, has a face value of 75 million pounds ($119.9), representing just over 3 percent of the junior bondholders the bank is imposing losses on.
The bank raised nearly half of the 4.2 billion euros ($6 billion) of additional core Tier 1 capital it is required to find by end-July after 74 percent of the bondholders took part in an early offer of the debt swap.
BOI had initially given holders of the Bristol & West bond more time to accept or reject the offer because they held the security in certificated form but terminated that offer after just 12 percent of holders had replied by June 24.
“The Bank currently intends to instigate a new offer ... at a future date. In so doing, the Bank will seek to address the unique difficulties that have been highlighted with regard to participation in the terminated offers,” BOI said in a statement.
The bank, which is launching a government-underwritten rights issue and a potential state stock placing in its bid to find more capital, also said it had resolved a legal action being taken against it by a holder of one the bonds.
British pensioner Albert Kempster was set to take the bank to court this week to prevent his savings from being wiped out by the debt restructuring plans.
“Proceedings have been resolved to the parties’ mutual satisfaction,” a spokesman for Bank of Ireland told Reuters. ($1 = 0.626 British Pounds) ($1 = 0.705 Euros) (Reporting by Padraic Halpin; Editing by Jon Loades-Carter)