Saturday 29 April 2017

Nama seeks advisors

The National Asset Management Agency Treasury building in Dublin
The National Asset Management Agency Treasury building in Dublin

NAMA is seeking firms to join a panel of advisors it will use to help manage the sale of its remaining €5bn of loans.

The agency said this week that it is on course to clear its remaining senior debt by the end of 2017, a year ahead of schedule. Nama is scheduled to be wound down by 2020.

It has posted an "invitation to tender" seeking firms who will compete be appointed to a panel of advisors that can be drawn on for provision of loan sale advisory services.

The panel will stand for four years.

On Thursday, Nama published annual results for 2016 that show it generated €5.8bn of cash last year, which included €5.1bn in loan and assets sales. Other income includes rents and interest paid to Nama.

The agency said it is on course to deliver a final surplus to the taxpayer of €2.3bn once it completes its work.

Irish Independent

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