July 16, 2014 / 11:06 AM / 3 years ago

Speedier NAMA sales to boost Allied Irish value - fin min

1 Min Read

DUBLIN, July 16 (Reuters) - Ireland's commitment that its "bad bank" will repay the bulk of its debt two years ahead of schedule will enhance the potential value of state-owned Allied Irish Banks, finance minister Michael Noonan said.

Ireland's National Asset Management Agency (NAMA) plans to repay a minimum of 80 percent of its senior debt by the end of 2016, two years earlier than planned, a government review of the state-run "bad bank" said on Wednesday.

Noonan had previously said a major part of the review would assess the impact of a quick wind-down on the country's banks that hold the debt supporting NAMA on their balance sheets, a particular drag for state-owned Allied Irish Banks which held 15.6 billion euros of the low-yielding bonds at end-2013. (Reporting by Padraic Halpin, editing by John Stonestreet)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below