Pearse Doherty (Donegal, Sinn Fein)
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111. To ask the Minister for Finance the number of persons and corporate entities debtors whose total repaid debts upon exiting NAMA were at certain loan book values (details supplied) with regard to NAMA debtors that have exited the agency up to January 2017, having repaid their debts to NAMA, in tabular form; and if he will make a statement on the matter. [3345/17]

Michael Noonan (Limerick City, Fine Gael)
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I am interpreting the Deputy's question as requesting the number of NAMA debtors who have exited the agency organised by reference to the amount repaid at the time of exit from NAMA as a percentage of the total par debt owed to NAMA.  In this regard, I am interpreting your reference to "total original loan book value" in the details supplied to the question as the total par debt owed to NAMA at the time NAMA acquired the loan.

I am also interpreting "exit from NAMA" to include both the establishment of a final agreement with NAMA or the sale of the loan.  The percentages provided reflect the amounts which had been repaid to NAMA as a percentage of the original amount owed to NAMA and are calculated at the time a final agreement was reached with NAMA or at the time loans may have been sold by NAMA (i.e. loan sale proceeds are not loan repayments.)

The Deputy will be aware that NAMA originally paid €31.8 billion to acquire a loan book with a par value - that is an outstanding borrowed amount - of €74 billion, comprising 779 debtor connections.  These loans had a market value of €26.2 billion, roughly 35% of par.  

It was never envisaged that NAMA would recover anything close to the €74 billion par value of the loans.  The average discount was 57%.  However, the acquisition discounts varied significantly depending on the underlying quality of the assets.  

I am advised that, as at 31 December 2016, 505 debtor connections with a par debt of €27.3 billion had exited NAMA. This comprises debtor connections who had reached a final agreement with NAMA and debtor connections whose loans had been sold. I am further advised that in 61 cases, debtors repaid 100% of the original par debt. In total, the 505 debtor connections have repaid €14.9 billion to the Agency, that is roughly 55% of the original par debt. A breakdown of debtor connections that had exited NAMA by end-December 2016 is presented in the following table.