Nama repayments set to surpass €16 billion

Nama is to redeem a further €1bn worth of senior bonds ahead of maturity this week; a move which will see it comfortably beat its original target of paying off half of its entire debt mountain by the end of next year.

The agency originally had a target of the end of 2016 to repay 50% of its €32bn debt, but actually hit that target in recent weeks.

This week’s additional redemption — scheduled for tomorrow — brings to €8.6bn the amount of senior bonds Nama has redeemed since the beginning of 2014 and to €16.1bn the amount of senior bonds redeemed since inception, or 53% of the amount originally issued.