Dáil Éireann Debate, Thursday - 29 June 2017
94. Deputy Michael McGrath asked the Minister for Finance the number and names of portfolios that NAMA is considering for sale; the par debt and book debt that NAMA currently owns; the plans of NAMA to sell this debt; and if he will make a statement on the matter. [30693/17]
View answerI would firstly refer the Deputy to page 46 of NAMA's recently published 2016 Annual Report. The report contains a significant amount of information on NAMA's remaining loan book and upcoming plans. NAMA's 2016 Annual Report can be accessed via: https://www.nama.ie/about-us/publications/annual-reports/
As per page 46 of the 2016 NAMA Annual Report, the outstanding principal balance of NAMA’s loans and receivables portfolio at end-2016 was €28.4 billion. The corresponding carrying value attributed to these unpaid balances was €3.9 billion. The position as of end-Q1 2017 will be included in the Q1 Section 55 Accounts which will be published over the coming weeks.
I am advised by NAMA that it plans to launch the Project Lee portfolio sale later this year (see page 9 of the 2016 NAMA Annual Report). Project Lee is a portfolio of loans secured largely by commercial assets located in Cork.
I am advised that, on an ongoing basis, NAMA reviews options as to how best to maximise the financial return from its acquired loans and, in that context, it is possible that the NAMA Board may decide to offer other portfolios for sale in the future.
