Oireachtas Joint and Select Committees

Tuesday, 11 February 2014

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Access to Finance for SMEs: Discussion

2:30 pm

Mr. Peter O'Mahony:

My understanding is that it was put in a segregated account and was drawn down as required by the market, based on the bids that were spoken. So the 80% bid would go through and the 20% requirement would be drawn down at that stage. It is was fully within the government's control throughout the whole process. I believe the average return they got on that £20 million was in the low 8% range. I think they got about 8.2% as a return on the money.

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