Nama on course to return €1bn surplus

Nama is on course to return a surplus to the State of roughly €1bn after repaying all senior bonds.

The agency, which was originally set up in 2009, paid €30.2bn in senior bonds and €1.6bn of junior bonds to the domestic banks, in return for €71.9bn in development loans.

However, it is well ahead of schedule in terms of paying back debt. By the end of last year, Nama had redeemed €10.5bn of senior bonds. Moreover, it is on course to redeem a further €2.5bn by the end of June and a further €2.5bn before the end of the year which is half of all its outstanding senior debt.