Pimco letter to PAC ‘a game changer’

Nama has been accused by US investment firm Pimco of “repeatedly mischaracterising” its role in the controversial sale of its Northern Ireland loan book.

The Dáil’s Public Accounts Committee (PAC) heard that Pimco said it was “disappointed” that its withdrawal from the £1.3bn sale had been “repeatedly mischaracterised by Nama”.

Several PAC members last night described the Pimco letter as a “gamechanger” as it contradicts evidence given by Nama to the committee.