NAMA redeems a further €500m of NAMA bonds
The National Asset Management Agency ([NAMA)has announced that it has redeemed a further €500m of NAMA bonds (senior securities) today.
This is the third repayment of bonds so far this year and brings the total of NAMA bonds redeemed to some €1.25bn, following the €500m redeemed in May and €250m in March.
In addition to repayments of €299m in advances made by the Minister for Finance, the news means that NAMA has reduced its indebtedness by €1.55bn in approximately 18 months.
Speaking on the decision, Frank Daly, Chairman of NAMA said that “further bond repayments are likely before the end of this year and our ability to make these repayments reflect the Agency’s very strong cash flow position”.
