NAMA completes second tranche of loan transfers from AIB, BoI, INBS and EBS

The National Asset Management Agency (NAMA) has completed the transfer of the second tranche of loans from Allied Irish Banks, Bank of Ireland, Irish Nationwide Building Society and EBS. The Agency has acquired loans with a nominal value of €5.2 billion.

NAMA securities with a value of €2.7 billion have been issued to the four institutions. This represents a weighted average discount of 48% for the four institutions on this tranche. Further details are set out below (figures are rounded). Loans will be acquired from the remaining institution – Anglo Irish Bank – over the coming weeks after all necessary due diligence material has been received and evaluated.

To date, some €20.5 billion of loans have been acquired at a consideration of €10.4 billion.

Participating
Institution
Nominal value
of loans acquired
Value of securities
exchanged for
loans
Discount

Discount
%

Allied Irish Banks€2.73 billion€1.40 billion€1.32 billion48.5%
Bank of Ireland€1.82 billion€1.13 billion€686 million37.8%
EBS Building Society€35.9 million€19.3 million€16.6 million46.4%
Irish Nationwide
Building Society
€591 million€163 million€428 million72.4%