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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