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NAMA completes largest ever loan transaction at €5.6bn

It consisted mostly of loans secured on assets in Northern Ireland.

Image: /Photocall Ireland

THE NATIONAL ASSET Management Agency (Nama) has completed it largest single loan transaction to date.

The deal took place with Cerberus Capital Management.

The portfolio, named Eagle, had a par value of £4.5 billion (€5.6 billion) and consisted mostly of loans secured on assets in Northern Ireland.

Some were in other locations where the underlying properties were owned by debtors based in Northern Ireland.

Earlier the month Nama carried out another landmark transaction with the largest ever bulk sale of Dublin apartments.

The portfolio included a total of 761 apartments across four mixed-use developments in the city.

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It is understood that the properties are being sold on behalf of four separate developers, all of whose loans have been taken over by the state’s bad bank.

Read: Nama is selling the biggest-ever portfolio of Dublin apartments for €160 million >

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Nicky Ryan

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