NAMA achieved its end-2013 target of redeeming €7.5 billion of Senior Bonds relating to its existing portfolio. €2.75 billion was redeemed in 2013. In March 2014, NAMA redeemed a further €3 billion of Senior Bonds bringing total amount redeemed to €10.5 billion – 35% of NAMA's Senior Bonds in issue.
In addition, by end-March 2014, NAMA had redeemed €4.2 billion of the Senior Bonds issued in respect of the acquisition of the IBRC loan facility deed and floating charge.
NAMA works closely with the IDA to identify suitable commercial properties to meet the requirements of foreign direct investment. Among such transactions in 2013 were the letting of 120,000 sq. ft. in Dublin's Grand Canal Square to Facebook for its European headquarters and a number of substantial lettings in Burlington Plaza, Dublin.
NAMA, through the deployment of working capital, is directly supporting 15,000 jobs in Ireland in trading businesses linked to its loans.
NAMA is supporting employment in small and medium business in the retail sector through rent abatements and longer-term rent reliefs.
NAMA is working closely with the DECLG and the Housing Agency to facilitate local authorities and housing bodies
to purchase and lease properties for social housing.
To date, 684 units have been delivered under this initiative
and NAMA expects that another 400 properties will be taken up by local authorities and housing bodies in 2014. Another 900 residential units could potentially be delivered in 2015/16.