90% of IBRC loan book snapped up by buyers

Only €1.9bn of the €21.7bn par value IBRC loan book will go into Nama following the completion of the sales process.

KPMG’s Kieran Wallace and Eamonn Richardson, the liquidators of IBRC, said the sales process exceeded all expectations with 90% of the par value of the book going to investors.

The last two tranches of the loan books of the State-owned bank have now been divested. Roughly 85% par value of the €9.3bn Project Stone, which was real estate loans originated in the Irish office of Anglo Irish Bank, was sold mostly to four buyers: Deutsche Bank, Lone Star, CarVal Investors and Goldman Sachs.