Oireachtas Joint and Select Committees
Wednesday, 24 October 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Role and Functions of NAMA: Discussion
5:50 pm
Mr. Brendan McDonagh:
No. For the Deputy's information, to protect us in case interest rates increased we have used the financial crisis to hedge our interest rates. As interest rates decreased we swapped markets. For approximately four years we have had an average interest rate cost of approximately 1.5%. While we pay 0.6%, we have hedged and we are protected from interest rates suddenly increasing.
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