NAMA Loans Sale

Dáil Éireann Debate, Tuesday - 1 July 2014

Tuesday, 1 July 2014

Questions (122)

Stephen Donnelly

Question:

122. Deputy Stephen S. Donnelly asked the Minister for Finance further to the recent announcement by the National Asset Management Agency that it had concluded the sale of the Project Eagle portfolio of assets linked to Northern Irish borrowers, if the sale price was agreed in sterling or euro, and if in sterling, if NAMA hedged the euro equivalent of the sterling price that was agreed at the end of March 2014-start of April 2014. [28067/14]

Written answers

Minister for Finance

I am advised by NAMA that the sale price for the recent Project Eagle portfolio of assets was agreed in sterling.  NAMA has had foreign exchange hedging in place against these sterling assets since acquisition and, on completion of the sale, this hedging was unwound.