Dáil Éireann Debate, Thursday - 18 June 2015
67. Deputy Pearse Doherty asked the Minister for Finance if he or his Department was consulted regarding the sale of National Asset Management Agency bonds held by the Irish Bank Resolution Corporation; if he will reveal the buyer of the bonds; and if any effort was made by the agency to buy back the bonds. [24232/15]
Amharc ar fhreagraThe sale of IBRC assets is a matter for the Special Liquidators of IBRC who updated me and my officials on sales processes throughout the Special Liquidation of IBRC. I am advised by the Special Liquidators that they will not be providing details of the bidders and ultimate purchasers of the NAMA bonds as this information is commercially sensitive.
I am further advised by NAMA that utilising NAMA's cash resources to purchase Subordinated Bonds from the Special Liquidators would have been inconsistent with NAMA's purpose of protecting and enhancing the value of assets in the interests of the State and with its more specific objectives of removing the State's contingent liability arising from NAMA Government-guaranteed Senior Bonds and NAMA's objective of investing in its assets to increase future disposal values.
