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National Asset Management Agency

Dáil Éireann Debate, Tuesday - 3 July 2012

Tuesday, 3 July 2012

Ceisteanna (203, 204)

Pearse Doherty

Ceist:

207 Deputy Pearse Doherty asked the Minister for Finance if he will provide a breakdown by National Asset Management Agency participating institutions of the €2 billion of NAMA senior debt redeemed by the agency, which was announced on 27 June, 2012. [32451/12]

Amharc ar fhreagra

Freagraí scríofa

NAMA have advised that following their recent decision to repay €2bn senior debt, the funds received by each institution is as follows:

Institution

Amount

AIB (incl. EBS):

€1,392m

BOI:

€351m

Permanent TSB:

€191m

IBRC:

€66m

Total:

€2,000m

Pearse Doherty

Ceist:

208 Deputy Pearse Doherty asked the Minister for Finance the consideration the National Asset Management Agency gave to its overriding objective of addressing the serious threat to the economy caused by the banking and property crisis, before taking the decision to redeem €2 billion of its senior debt, announced on 27 June, 2012. [32452/12]

Amharc ar fhreagra

One of the primary objectives of NAMA is the repayment of the cost of the loans acquired from the Participating Institutions and the cost of the working and development capital expenditure on the assets attached to the loans. I am advised by NAMA that through its activities, including a phased and orderly asset disposal programme and investment in residential and commercial projects underlying its loans, it is well advanced in terms of meeting this overriding objective. The recent repayment of €2 billion of its senior debt, which brings the total redeemed to date to some €3.25 billion, is further evidence of this and the Agency has advised that it is firmly on course to meet its first major milestone of repaying €7.5 billion of Senior Bonds by the end of 2013.

Questions Nos. 209 and 210 answered with Question No. 200.
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