Oireachtas Joint and Select Committees

Wednesday, 26 February 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Sale of IBRC Mortgage Loan Book: Discussion

4:20 pm

Mr. Kieran Wallace:

For the taxpayer and the creditors of IBRC. Some 84% of Evergreen was sold on the open market, which meant we got above the valuation of the individual assets. We were very pleased with the values we had obtained. Today we announced the sale of €7 billion worth of loans at par, again above our independent valuation; therefore, the sales process we are applying across the portfolios is fulfilling our obligation of getting the best price and delivering the best return for the taxpayer and the creditors of IBRC.