Pearse Doherty (Donegal South West, Sinn Fein)
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Question 184: To ask the Minister for Finance if he will provide the figure for the total amount of staple finance provided by the National Asset Management Agency, split by country; the average interest rate charged by NAMA; the average yield on the property sold; the maximum percentage of the sale price financed by NAMA and the maximum length of time over which the staple finance is to be repaid. [31659/12]

Michael Noonan (Limerick City, Fine Gael)
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As previously advised to the Deputy, there is no single standard set of terms for stapled debt which NAMA may offer to parties acquiring commercial property from NAMA borrowers or receivers. Terms quoted will vary to reflect the attributes of various commercial property categories and individual properties, the varying strengths of tenants and leases, and the strength of counterparties/property purchasers. NAMA advises that only strong and reputable counterparties will be considered for stapled finance. For instance, NAMA advises that for prime investment properties, that is properties whose investment characteristics include, for instance, good location and strong tenants on leases with long maturity at realistic rents, which would qualify for the most generous loan terms, NAMA may offer up to 70% of the purchase price for a period of 5 years at a typical interest margin of 3% over cost of funds. NAMA further advises the first sale of property using staple finance provided by the Agency was that of No 1 Warrington Place in Dublin; that there are a number of further such sales in the pipeline; and that NAMA envisages that it will make up to €2 billion in staple finance available to purchasers of commercial properties controlled by its debtors and receivers in markets in which those debtors and receivers hold commercial properties. The Agency advises that the further detail sought by the Deputy is commercially sensitive and that disclosure of the information would impede NAMA's ability to negotiate the best possible outcome for the Irish taxpayer in each disposal undertaken by its debtors and receivers.