NAMA redeems €2 billion of NAMA bonds

The National Asset Management Agency (NAMA) has announced that it has redeemed a further €2 billion of NAMA Bonds (Senior Securities) today. This is the fourth repayment of bonds to date and brings the total of NAMA bonds redeemed to some €3.25 billion (€1.25 billion redeemed in 2011). 

In addition to repayment in 2010 and 2011 of €299m in advances made to NAMA by the Minister for Finance, this means that NAMA has reduced its indebtedness by over €3.5 billion over the past two years. 

Speaking on the decision, Frank Daly, Chairman of NAMA, said that the Agency’s strong cash position meant that additional debt repayments were likely before the end of the year and that NAMA was well placed to meet its target of repaying €7.5 billion of Senior Bonds by the end of 2013.