Tuesday, 11 March 2014

Questions (78, 79)

Pearse Doherty

Question:

78. Deputy Pearse Doherty asked the Minister for Finance if a person (details supplied) refinanced their €300 million loan at the Irish Bank Resolution Corporation at par value of 100% or if the full value entailed a refinancing at 97%, to allow for the cost of refinancing. [11662/14]

View answer

Pearse Doherty

Question:

79. Deputy Pearse Doherty asked the Minister for Finance if any persons or companies have been allowed to buy back their loans from Irish Bank Resolution Corporation at a discount to allow for the cost of refinancing. [11663/14]

View answer

Written answers (Question to Finance)

I propose to take Questions Nos. 78 and 79 together.

I have been advised by the Special Liquidators that the requested information is commercially sensitive and that they will not be commenting on individual customer-related transactions. The Special Liquidators have confirmed that there are 33 Borrower Groups, representing 0.2% of total Borrower Groups in Irish Bank Resolution Corporation Limited in Special Liquidation, that were or are being offered for sale on a standalone bases. No IBRC Borrower is being provided with an exclusive opportunity to buy back their loans at a discount. A Borrower will only successfully be in a position to buy back their loans if they have provided an offer that is over and above the independent valuation obtained by the Special Liquidators and if their offer is over and above offers received from third parties.