Written answers

Wednesday, 29 May 2013

Department of Finance

NAMA Loan Write-Downs

Photo of Arthur SpringArthur Spring (Kerry North-West Limerick, Labour)
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85. To ask the Minister for Finance the total number of companies who have had loans transferred to the National Assets Management Agency; the highest value of such a loan; the discount that has been applied to that loan; and from which financial institution. [26159/13]

Photo of Arthur SpringArthur Spring (Kerry North-West Limerick, Labour)
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86. To ask the Minister for Finance the total number of persons that have had loans transferred to the National Assets Management Agency; the highest value of such a loan; the discount that has been applied to that loan; and from what financial institution. [26160/13]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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I propose to take Questions Nos. 85 and 86 together.

I am advised that NAMA acquired loans which had been advanced to over 5,000 debtor entities by the five participating institutions. NAMA advises that the average discount across the portfolio of acquired loans was 57%. The discount varied on a loan by loan basis depending on the quality and location of the underlying security. Detailed information on NAMA’s acquisition of loans and its engagement with close to 800 debtor connections, including details relating to the overall par and loan acquisition value of loans acquired and the discounts applied is set out in the Agency’s annual reports for 2010 and 2011, both of which are available on the NAMA website, www.nama.ie.

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