Oireachtas Joint and Select Committees
Thursday, 26 September 2013
Public Accounts Committee
Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency
1:20 pm
Mr. Brendan McDonagh:
No, because we still have our first charge over the assets. Before we sold the portfolio we had 100% risk. We de-risked it to 60% because we got an equity cheque of 40% on day one, and we retained the possibility that if the assets were sold for a higher price than that at which we sold them to the buyers we got 20% of any upside.
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