NAMA redeems a further €1 billion in Senior Debt

NAMA redeems a further €1 billion in Senior Debt

-        NAMA’s outstanding Senior Debt now reduced to 12% (€3.6 billion) of its original level of €30.2 billion

30/09/2016

The National Asset Management Agency (NAMA) has redeemed a further €1 billion of Senior Notes today (Friday 30th September 2016).

This brings to €26.6 billion the amount of senior debt redeemed to date, representing 88% of the €30.2 billion of senior debt originally issued in 2010 and 2011 to acquire bank loans.

This is NAMA’s third redemption of Senior Debt in 2016, bringing the total redeemed in 2016 alone to €4.5 billion

Today’s redemption means NAMA’s senior debt now stands at €3.6 billion, less than one-eighth of its original level.

 

NAMA Chief Executive Brendan McDonagh said:

“As we have now reached 88% redemption, NAMA remains firmly on course to meet its ultimate target of redeeming all of its senior debt by 2018 – two years ahead of the schedule originally set when NAMA began its operations - and is firmly on course to deliver a surplus for Irish taxpayers of at least €2.3 billion”.