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NAMA redeem another E2.5bn senior bonds

Wednesday, June 25 12:53:36

NAMA today said it has redeemed a further E2.5bn of senior bonds.

This brings the total value of senior bonds redeemed to date to E13bn.

The total value of outstanding senior NAMA bonds is E17.19bn.

Back in March, NAMA's chairman, Frank Daly, said that the agency is likely to wind up before its original expiry date of 2020, adding that he was "quite optimistic" about NAMA achieving a surplus for the taxpayer in the end.

This followed an announcement from him that NAMA would redeem another E3 billion in senior bonds within two weeks and a similar amount before the end of 2014.

This means it will have redeemed E15 billion of its E30 billion in senior bonds by the end of 2014, some two years ahead of schedule.