Nama meets troika target as €7.5bn in bonds redeemed

Nama has met a key troika target of redeeming €7.5bn of senior bonds before the end of this year.

Moreover, the agency also redeemed a total of €500m of the €12.9bn of senior bonds issued to the Central Bank in exchange for a floating charge over the assets of IBRC at the time of its liquidation last February.

“I very much welcome the announcement by Nama that they have met their first major milestone — the redemption of €7.5bn senior bonds by the end of 2013. This milestone was a key target for Nama and it is especially welcome that this target has been met with the agency holding an additional €3bn of cash on hand,” said Finance Minister Michael Noonan.