As set out in the NAMA Section 55 Quarterly Report to 30 September 2013, the book value of NAMA's loans at that date was €20.7bn. Details relating to the book value of NAMA loans will be set out, in line with IFRS accountancy requirements, in its annual report for 2013, which will be published in the coming months.
On December 4th, 2013, NAMA announced that it had met its first major milestone the redemption of €7.5 billion of Senior Bonds by the end of 2013. NAMA also announced at that time that the NAMA Board has set a target of redeeming another €7.5 billion in Senior Bonds by the end of 2016 and its expectation is that all senior debt will be redeemed by 2020. I understand that the Board continues to review its senior debt redemption schedule in the light of current market conditions.