Marc MacSharry (Sligo-Leitrim, Fianna Fail)
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157. To ask the Minister for Finance if a company (details supplied) has received to date €156 million in three tranches via the National Treasury Management Agency; if so, the reason the company received these payments; and if he will make a statement on the matter. [3744/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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For the purposes of clarity, I believe the €156 million referred to in the Deputy’s question relates to agreements to which both the National Treasury Management Agency (the “NTMA”) and the Strategic Banking Corporation of Ireland (the “SBCI”) are separately party. Details on these agreements are set out, as follows; however, I am advised by the NTMA that the value of these agreements is €171 million.

The NTMA, as controller and manager of the Ireland Strategic Investment Fund (ISIF), has made direct strategic equity investments in Finance Ireland Limited. These investments amount to €45 million in total. Finance Ireland Limited received a €30 million equity investment from the ISIF in 2016, and a further €15 million in 2018, in order to support the expansion of the company’s SME and agri lending franchise.

The SBCI has entered into on-lender facility agreements with FICS Holdings (One) DAC, a subsidiary of Finance Ireland Limited. FICS Holdings (One) DAC initially received a €51 million facility from the SBCI in April 2016, to support the continued expansion of its hire purchase, leasing, working capital and agri asset finance offerings to SMEs and bring increased choice to Irish businesses. In December 2018, the SBCI announced an additional €75 million facility agreement with Finance Ireland.

Marc MacSharry (Sligo-Leitrim, Fianna Fail)
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158. To ask the Minister for Finance if his attention has been drawn to the off balance sheet lending to a company (details supplied) of €420 million as per December 2017 accounts from a company; the exposure taxpayers here have to the funds in view of the fact that the bad debt provision of the company is less than 1%; his views on whether a slight downturn renders the company an unprofitable company; and if he will make a statement on the matter. [3745/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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I refer the Deputy to my response to PQ 3744/19, which sets out the agreements with Finance Ireland Limited and its subsidiary FICS Holdings (One) DAC.

I am advised that neither the National Treasury Management Agency, as controller and manager of the ISIF, nor the Strategic Banking Corporation of Ireland has any agreements with ‘Close Bros’.

Marc MacSharry (Sligo-Leitrim, Fianna Fail)
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159. To ask the Minister for Finance if his attention has been drawn to the fact that according to the accounts of a company (details supplied) the return for taxpayers here on the high risk investment in 2019 will be less than €1 million which is less than 1% of the €156 million that went to the company; his views on whether this is value for money; and if he will make a statement on the matter. [3746/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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I refer the Deputy to the response to PQ 3744/19, which sets out the agreements with Finance Ireland Limited and its subsidiary FICS Holdings (One) DAC. These agreements are commercially negotiated and it would not be appropriate to disclose this commercially sensitive information.

However, I would draw the Deputy's attention to the facts, as set out in PQ 3744/19, that the Ireland Strategic Investment Fund funds are direct equity investments, whereas, the funds from the Strategic Banking Corporation of Ireland are lending facilities. These funds have different statutory objectives, as set out in the statutes establishing both bodies, which means a single level of return should not be expected.