Dáil Éireann Debate, Tuesday - 24 February 2015
563. Deputy John McGuinness asked the Minister for the Environment, Community and Local Government the loans raised by Irish Water from private banks; if security has been provided for such loans; if guarantees of any nature have been provided by the State; if there is risk to the Exchequer for such loans raised by Irish Water; and if he will make a statement on the matter. [7886/15]
View answer568. Deputy Pearse Doherty asked the Minister for the Environment, Community and Local Government the number of loans Irish Water has; the value of each loan; the name of the lender; the interest rate on each loan; and if each loan is secured or unsecured. [7676/15]
View answerI propose to take Questions Nos. 563 and 568 together.
Irish Water has a €300m loan from the NPRF at an annual interest rate of 2.5%. There is no security for this loan but the loan is guaranteed by the Minister for Finance, for which a separate guarantee fee is payable.
Irish Water has put in place facilities with commercial banks in the amount of €150m which are unsecured (other than cash backing provisions within an overdraft/demand facility). While the names of lenders and applicable interest rates are commercially sensitive the interest rate on the loans are competitive and at market rates. Further facilities of some €250m are at an advanced stage of negotiation.
