The National Asset Management Agency (NAMA) has confirmed that it has redeemed €3 billion in Senior Bonds which were issued as consideration for the original loans acquired from the participating institutions in 2010 and 2012.  This redemption means that NAMA has redeemed a total of €10.5 billion in Senior Bonds to date.

Notes:

• NAMA paid consideration of €31.8 billion to the participating institutions when it acquired their loans in 2010 and 2011.
• 95% of the consideration (€30.2 billion) was in the form of Senior Bonds guaranteed by the Minister for Finance and the residual 5% (€1.6 billion) was in the form of subordinated debt.
• NAMA recently announced that this year, for the first time, it will be in a position to pay a coupon on the subordinated debt. 

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