NAMA completes final investor payment before €2bn transfer to Exchequer

€56m payment eliminates final outstanding investor obligation and gives State 100pc ownership of special purpose vehicle

  • The National Asset Management Agency (NAMA) has today completed the final investor payment required before it transfers €2bn of its expected €4 billion surplus to the Exchequer.
  • Today’s €56m payment eliminates NAMA’s final outstanding investor obligation and increases the State’s stake in the special purpose vehicle that owns the NAMA Group entities from 49pc to 100pc.
  • The Special Purpose Vehicle (National Asset Management Agency Investment DAC, “NAMAI”) was previously 51pc owned by a range of private investors. This ownership structure, set out in the NAMA Act and approved by the European Commission, was designed to ensure that NAMA’s liabilities (€31.8bn at peak) would be considered outside of the Government sector.

Article Published: 26/05/2020