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NAMA's bond bid

NAMA has redeemed a further €500m of NAMA bonds.

This is the third repayment of bonds so far this year and brings the total of NAMA bonds redeemed to some €1.25bn.

The latest moves mean that NAMA has reduced its indebtedness by €1.55bn in approximately 18 months.

Frank Daly (pictured right), chairman of NAMA, said that further bond repayments are likely before the end of this year.

"Our ability to make these repayments reflect the agency's very strong cashflow position," he said.