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NAMA redeem another E750m in bonds

Monday, February 03 11:10:36

NAMA today announced the redemption of E750m in Senior Bonds which were issued for the purchase of the IBRC floating charge from the Central Bank following the appointment of Special Liquidators to IBRC in February 2013.

Taking into account the redemption of another E1 billion in 2013, this brings NAMA's cumulative redemption of these bonds to E1.75 billion.

In total, NAMA issued E12.93 billion in Senior Bonds to the Central Bank as consideration for the floating charge and the redemptions to date mean that the bonds in issue have been reduced to E11.18 billion.

The Special Liquidators to IBRC are currently engaged in the sale of various IBRC loan portfolios and the loans which are not sold during this process will be acquired by NAMA over the coming months.