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Sasko Lazarov/Photocall Ireland

NAMA meets 'major milestone' with redemption of €500m in senior bonds

The bonds redemmed were issued as consideration for loans acquired from financial institutions in 2010 and 2011.

NAMA HAS ANNOUNCED today that it has redeemed €500 million in senior bonds and met its “first major milestone” – the redemption of €7.5 billion of senior bonds by the end of 2013.

The bond redeemed today were issued as consideration for the original loans acquired from financial institutions in 2010 and 2011.

Todays redemption leaves €22.7 billion outstanding in the agency’s loan portfolio. The board has set a target of redeeming a further €7.5 billion in senior bonds by the end of 2016 and its expectation is that all senior debt will be redeemed by 2020.

The agency also announced the redemption of €200 million in senior bonds which were issued as consideration for purchase of the IBRC floating charge from the Central Bank in February of this year.

Special liquidators to IBRC are currently engaged in the sale of various loan portfolios and the loans which are not sold during this process will be acquired by NAMA over the coming months.

Commenting today, NAMA chairman said the milestone attained today “is an important one, not only for NAMA in terms of its own progress, but also because it reinforces the very positive international perception of Ireland as a country that is resolutely addressing its difficulties and meeting its targets”.

Read: NAMA says it has been the most ‘proactive’ in providing social housing>

Read: NAMA expects to hire up to 220 staff to deal with loans from IBRC’s liquidation>

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10 Comments
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    Mute Donnacha Bhoicaire
    Favourite Donnacha Bhoicaire
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    Jul 14th 2017, 10:07 PM

    Jesus – I’m off to the beach to collect some sand

    58
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    Mute John Considine
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    Jul 14th 2017, 11:29 PM

    There’s a difference between going to the moon and buying the Cork Examiner.

    37
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    Mute David Wall
    Favourite David Wall
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    Jul 14th 2017, 10:08 PM

    Literally, friends in high places

    27
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    Mute Jonny
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    Jul 14th 2017, 10:30 PM

    A moon rock that was presented to the Netherlands turned out to be petrified wood.

    27
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    Mute Jonny
    Favourite Jonny
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    Jul 14th 2017, 10:48 PM

    @Finipops: I’m more inclined to believe the robbery/arson theory. More than likely robbed to order & is now sitting in someone’s private collection.

    11
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    Mute Alois Irlmaier
    Favourite Alois Irlmaier
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    Jul 15th 2017, 12:06 AM

    @Finipops: Could have been gall stones for what we know l..

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    Mute Alois Irlmaier
    Favourite Alois Irlmaier
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    Jul 16th 2017, 12:38 AM

    @Finipops: Was that not Nixon mixing tablets with drink?

    2
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    Mute Diarmuid
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    Jul 15th 2017, 12:20 AM

    Lunacy.

    17
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    Mute Ken Hayden
    Favourite Ken Hayden
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    Jul 14th 2017, 10:25 PM

    That’s it now , maudlin Friday night it is , The carpenters , (close to you) is up first .
    So they sprinkled moon dust

    7
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    Mute Alois Irlmaier
    Favourite Alois Irlmaier
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    Jul 14th 2017, 11:58 PM

    If that is Moon dust then it should be radioactive from the solar and cosmic radiations?

    6
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    Mute Stephen Coveney
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    Jul 15th 2017, 3:00 AM

    @Alois Irlmaier:
    Explain the science behind your assumption?
    Are you saying the whole moon is radioactive? Are the astronauts that landed there in danger? Aldrin has survived quite a long time.
    Or maybe you’re an idiot.

    15
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    Mute Alois Irlmaier
    Favourite Alois Irlmaier
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    Jul 16th 2017, 12:52 AM

    @Stephen Coveney: http://www.sciencedirect.com/science/article/pii/S0032063312002085
    https://science.nasa.gov/science-news/science-at-nasa/2005/08sep_radioactivemoon/
    “The surface of the Moon is badly exposed to cosmic rays and solar flares, and some of that radiation is very hard to stop with shielding.” “All this radiation penetrating Human flesh can damage DNA, boosting the risk of cancer and other maladies.”

    “When galactic cosmic rays collide with particles in the lunar surface, they trigger little nuclear reactions that release yet more radiation in the form of neutrons. The lunar surface itself is radioactive.”

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    Mute Alois Irlmaier
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    Jul 16th 2017, 1:05 AM

    @Stephen Coveney: Dailymail there meant to say neutron radiation not UV but UV would be dangerous but not as bad as the gamma and X Ray radiation there.

    1
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    Mute Alois Irlmaier
    Favourite Alois Irlmaier
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    Jul 16th 2017, 1:18 AM

    @Stephen Coveney: https://www.nasa.gov/pdf/284273main_Radiation_HS_Mod1.pdf
    https://www.space.com/21353-space-radiation-mars-mission-threat.html
    Read the part… “Dangerous Radiation in Space and on the Moon”

    1
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    Mute Quentin Moriarty
    Favourite Quentin Moriarty
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    Jul 15th 2017, 12:23 AM

    Capricorn One

    3
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    Mute Peter Brophy
    Favourite Peter Brophy
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    Jul 15th 2017, 3:14 AM

    Is it just me…eh dad, let’s not throw out that moon dust yet, could get a bit of craic off or with the lads later

    2
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    Mute Ciaran Fairley
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    Jul 15th 2017, 9:41 AM

    A fool and his money are easily parted. Lol

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    Mute Carlos André
    Favourite Carlos André
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    Jul 15th 2017, 8:23 AM

    You really need to be a great idiot to buy dust that can be from anywhere, even if it is from the moon!!!

    3
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