Nama to sell O’Flynn loans

Nama will put up for sale €1.8bn of loans belonging to Cork-based property developer Michael O’Flynn, according to reports.

Nama has retained the investment bank UBS to oversee the divestment of the loan portfolio, which is expected to attract bids of over €1bn, said a report in the Sunday Business Post.

It is believed that Nama has received a number of unsolicited bids for the loans, which are among the best performing in the agency’s books.