Nama sells €5.4bn Northern loans

Nama has sold its Northern Ireland portfolio with a par value of £4.5bn (€5.45bn) to a US private equity firm for an undisclosed price.

The assets, known as the Project Eagle portfolio of loans, were sold to US-based Cerberus Capital for more than the £1.3bn that Nama originally paid. The sale is the largest single transaction by Nama.

The portfolio consisted of loans relating to about 850 properties across the province. The move was welcomed by Peter Robinson, the North’s first minister.