Nama pays off debts of €4.75bn
Nama has yielded €6.9bn through asset disposals and a further €3.5bn through rental incomes. Moreover, it ended 2012 with €3.6bn in cash balances. It is on course to meet its target of €7.5bn in senior bond redemption by the end of this year, it said in a statement.
Nama was set up in 2009 by the then finance minister Brian Lenihan to take over the large land development loans held by the domestic banks. Similar to the Irish Bank Resolution Corporation, the agency is scheduled to run down its loanbook by 2020. It issued €32bn in bonds for €74bn of property loans.
