albk12 Nov 2010 11:21
DUBLIN (Reuters) - Ireland's "bad bank" will take on a last tranche of loans from struggling lenders at a 58 percent discount to face value, according to the National Treasury Management Agency (NTMA).
NAMA is likely to pay 30.7 billion euros for a final consideration of 73.6 billion euros, representing a 58 percent discount, NTMA in a statement.
Dublin set up the National Asset Management Agency (NAMA) last year to cleanse lenders such as Bank of Ireland (Dublin: BIR.IR - news) and Allied Irish Banks (Dublin: AIB.IR - news) of shaky property loans with a total nominal worth of 81 billion euros.