Nama redeems €1.09bn of Senior Notes

The National Asset Management Agency (Nama) has redeemed €1.09bn of Senior Notes today, its first redemption in 2017.

This brings to €28.69bn the amount of senior debt redeemed to date, representing 95% of the €30.2bn of senior debt originally issued in 2010 and 2011 to acquire bank loans.

Nama’s senior debt now stands at €1.5bn, 5% of its original level.

The agency says that it remains "firmly on course, subject to market conditions", to meet its ultimate target of redeeming all of its senior debt by end-2017.

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