NAMA says it has cut debt burden by €1bn in one year

THE country’s bad bank announced yesterday that it has paid back €500 million in bonds, cutting its debt burden by €1bn in just over 12 months.

NAMA said the debt repayment was further evidence that “NAMA is doing what it was set up to do,” the agency’s chairman Frank Daly said.

The NAMA board announced the agency will repay €500m of bonds this week.