Dáil Éireann Debate, Tuesday - 29 January 2019
157. Deputy Marc MacSharry asked the Minister for Finance if a company (details supplied) has received to date €156 million in three tranches via the National Treasury Management Agency; if so, the reason the company received these payments; and if he will make a statement on the matter. [3744/19]
View answerFor the purposes of clarity, I believe the €156 million referred to in the Deputy’s question relates to agreements to which both the National Treasury Management Agency (the “NTMA”) and the Strategic Banking Corporation of Ireland (the “SBCI”) are separately party. Details on these agreements are set out, as follows; however, I am advised by the NTMA that the value of these agreements is €171 million.
The NTMA, as controller and manager of the Ireland Strategic Investment Fund, ISIF, has made direct strategic equity investments in Finance Ireland Limited. These investments amount to €45 million in total. Finance Ireland Limited received a €30 million equity investment from the ISIF in 2016, and a further €15 million in 2018, in order to support the expansion of the company’s SME and agri-lending franchise.
The SBCI has entered into on-lender facility agreements with FICS Holdings (One) DAC, a subsidiary of Finance Ireland Limited. FICS Holdings (One) DAC initially received a €51 million facility from the SBCI in April 2016, to support the continued expansion of its hire purchase, leasing, working capital and agri asset finance offerings to SMEs and bring increased choice to Irish businesses. In December 2018, the SBCI announced an additional €75 million facility agreement with Finance Ireland.
