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NAMA redeems €2.5bn in bonds

National Asset Management Agency recently reported profits of €211m.
Jun 25th 2014, 1:53 PM 7,499 16

NAMA has redeemed €2.5 billion in senior bonds today, bringing the total value of senior bonds redeemed by the state agency to date to €13bn.

The total value of NAMA’s outstanding senior bonds is €17.19bn. It plans to redeem a further €2bn by the end of this year.

The National Asset Management Agency recently reported a net profit of €211 million for last year and an operating profit of €1.2bn (up 45% on 2012). The agency said it generated €4.5bn in cash last year, including the proceeds of asset disposal by debtors and receivers, and non-disposal income such as rent.

Last month, NAMA sold a €1.8 billion loan portfolio which includes the tallest building in Ireland for an estimated €1.1 billion.

Read: Here’s the most complete breakdown of NAMA loans you’ll see today >

Read: As expected, Moody’s upgrades Ireland’s debt for second time >

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Susan Ryan

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