Oireachtas Joint and Select Committees

Thursday, 7 November 2013

Public Accounts Committee

Bord na gCon - Annual Accounts 2011

10:50 am

Mr. Michael Murnane:

The interest-only portion of the loan, €12.5 million, is on interest only as per the agreement with the bank which, I believe, was entered into in 2009. So that is as per the contract with the bank. Currently we have a heads of terms of agreement with our bank, which we are hoping to finalise next week, whereby we are going to start a capital repayment programme commencing from 2014.

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