Oireachtas Joint and Select Committees

Thursday, 23 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Go raibh maith agat agus fáilte an tUasal O'Reilly. Can I ask you, you refer in paragraphs 3 to 5, on page 5 of your statement, to a multi-bank loan agreement for the Dundrum Town Centre involving six banks, with Anglo as the agent for the other five lenders. How did this arrangement come about and, from a developer's viewpoint, what are the particular advantages and downside risks with this type of funding approach?

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