Dáil Éireann Debate, Tuesday - 13 February 2018
144. Deputy Catherine Murphy asked the Minister for Finance the status of all bilateral loans the State has with the UK Exchequer; the amounts that are outstanding to be repaid; the interest due; the duration of the loan terms; if he has made amendments or changes to the loan schedules in the context of Brexit; and if he will make a statement on the matter. [7310/18]
Amharc ar fhreagraThe UK Bilateral loan provided as part of the EU-IMF Programme was drawn down in eight equal tranches of £403 million over the period October 2011 to September 2013. The total UK Bilateral loan outstanding is £3.23 billon.
This is a fixed rate loan. The weighted average interest rate, including service fees, on the aggregate UK loan facility is 2.6%. Interest is paid semi-annually, in June and December.
Each of the eight tranches had a 7.5 year term from drawdown. The residual weighted average maturity of the UK loan facility is now just over 2 years.
The first £0.4 billion tranche is due to be repaid in April 2019.
Further detail is available on the website of the National Treasury Management Agency (NTMA) at http://www.ntma.ie/business-areas/funding-and-debt-management/euimf-programme/.
I have made no request for amendments or changes to the UK bilateral loan facility in the context of Brexit.
