NAMA begins €10bn Anglo transfer

NAMA has started to transfer the first tranche of €10 billion in loans from Anglo Irish Bank at a discount of 55%.

A NAMA spokesperson said the discount applied to Anglo’s first tranche is expected to be close to 55%, subject to additional data checks and foreign exchange rates at time of the final transfer.

“In order to reduce operational risk, the loans are being acquired in two phases. Over the past weekend, the agency acquired loans with a nominal value of €4bn,” the spokesperson added.