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Minister Noonan's Statement re NAMA’s announcement today that it has reached it €7.5 billion redemption target

Commenting on NAMA’s announcement today that it has reached it €7.5 billion redemption target the Minister for Finance, Michael Noonan stated:

“I very much welcome the announcement by NAMA today (4th of December 2013) that they have met their first major milestone – the redemption of €7.5 billion senior bonds by the end of 2013. This milestone was a key target for NAMA and it is especially welcome that this target has been met with the Agency holding and additional €3 billion of cash on hand. This highlights the real progress that NAMA is making in reducing their liabilities and generating a return for the Irish taxpayer. The progress the Agency is making in hitting its targets is a testament to the focus and hard work of the staff, management and board in NAMA.

NAMA hitting this first key milestone will further build confidence in Ireland's recovery.

Notes to editors

Link to NAMA statement:

http://www.nama.ie/news/4-december-2013-nama-announces-senior-bond-redemptions-totalling-e700m/