Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

66. To ask the Minister for Finance in view of the ordering in February 2013 of the National Asset Management Agency to take over any Irish Bank Resolution Corporation assets, including any of the Agency's bonds not sold at the reserve price, the reason the bonds were allowed to be sold at a later date by the Special Liquidator at a discount under the reserve. [24231/15]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am informed that the Special Liquidators sold the NAMA Subordinated Bonds at a price in excess of the reserve price set by an independent valuer.

Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

67. To ask the Minister for Finance if he or his Department was consulted regarding the sale of National Asset Management Agency bonds held by the Irish Bank Resolution Corporation; if he will reveal the buyer of the bonds; and if any effort was made by the agency to buy back the bonds. [24232/15]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The sale of IBRC assets is a matter for the Special Liquidators of IBRC who updated me and my officials on sales processes throughout the Special Liquidation of IBRC. I am advised by the Special Liquidators that they will not be providing details of the bidders and ultimate purchasers of the NAMA bonds as this information is commercially sensitive.

I am further advised by NAMA that utilising NAMA s cash resources to purchase Subordinated Bonds from the Special Liquidators would have been inconsistent with NAMA s purpose of protecting and enhancing the value of assets in the interests of the State and with its  more specific objectives of removing the State's contingent liability arising from NAMA Government-guaranteed Senior Bonds and NAMA s objective of investing in its assets to increase future disposal values.