Pearse Doherty (Donegal South West, Sinn Fein)
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Question 208: To ask the Minister for Finance the consideration the National Asset Management Agency gave to its over-riding objective of addressing the serious threat to the economy caused by the banking and property crisis, before taking the decision to redeem €2bn of its senior debt, announced on 27 June, 2012. [32452/12]

Michael Noonan (Limerick City, Fine Gael)
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One of the primary objectives of NAMA is the repayment of the cost of the loans acquired from the Participating Institutions and the cost of the working and development capital expenditure on the assets attached to the loans. I am advised by NAMA that through its activities, including a phased and orderly asset disposal programme and investment in residential and commercial projects underlying its loans, it is well advanced in terms of meeting this overriding objective. The recent repayment of €2 billion of its senior debt, which brings the total redeemed to date to some €3.25 billion, is further evidence of this and the Agency has advised that it is firmly on course to meet its first major milestone of repaying €7.5 billion of Senior Bonds by the end of 2013.