National Asset Management Agency (Houses of the Oireachtas)

National Asset Management Agency - Loans - rejection of offers

Sitting date: 19/10/2017
[Written Answers]...further to parliamentary question number 111 of 3 October 2017, the average interest rate on the loans advanced by NAMA to developers; and if he will make a statement on the matter. [Q. No(s) 69 to Minister for Finance ]

National Asset Management Agency - Loans - rejection of offers

Sitting date: 19/10/2017
[Written Answers] I am advised by NAMA that its lending terms are in line with those available on the open market. The interest rates charged on loans advanced by the Agency typically comprise a margin over Euribor. Some facilities are by reference to the margin NAMA inherited from the participating...

National Asset Management Agency - Operations - issues relating to

Sitting date: 19/10/2017
[Written Answers]...if NAMA will charge a service fee to Home Building Finance Ireland for use of its expertise in residential development funding. [Q. No(s) 66 to Minister for Finance ]

National Asset Management Agency - Operations - issues relating to

Sitting date: 19/10/2017
[Written Answers] As announced in my Budget speech on 10 October 2017, it is my intention to establish Home Building Finance Ireland (HBFI) to provide funding on market terms to viable residential development projects whose owners are experiencing difficulty in obtaining debt funding. HBFI will b...

National Asset Management Agency - Social housing - provision

Sitting date: 17/10/2017
[Written Answers]...the mechanisms available to NAMA and the to be established Home Building Fund Ireland to ensure the provision of affordable homes on public or private lands. [Q. No(s) 118 to Minister for Finance ]

National Asset Management Agency - Social housing - provision

Sitting date: 17/10/2017
[Written Answers]...the targets he has for commencements and completions of new housing units for 2018 funded via home building finance Ireland; and the mechanisms which will be put in place for recipients of this funding to ensure that houses are sold at affordable prices. [Q. No(s) 119 to Minister...

National Asset Management Agency - Social housing - provision

Sitting date: 17/10/2017
[Written Answers] I propose to take Questions Nos. 118 and 119 together. In my Budget speech on 10 October 2017 I announced a proposal to establish a new dedicated fund, Home Building Finance Ireland (‘HBFI’) which will be designed to increase the availability of debt funding to developers willing...

National Asset Management Agency - Operations - issues relating to

Sitting date: 11/10/2017
[Written Answers]...the joint ventures NAMA has entered into with house builders and developers; the name and location of each development; the corresponding developer in question; the number of units developed on each site or plan to be developed; the amount of capital supplied by NAMA for each sit...

National Asset Management Agency - Operations - issues relating to

Sitting date: 11/10/2017
[Written Answers] I wish to advise the Deputy that NAMA invests in projects with third parties on a joint venture basis from time to time. I am advised that NAMA takes a minority non-controlling interest in the investment in order to facilitate the delivery of commercial and residential property an...

National Asset Management Agency - NAMA - reports

Sitting date: 10/10/2017
[Written Answers]...if he will publish the seven yearly reports regarding NAMA's use of post acquisition powers submitted to the European Commission and Irish competition authorities in each of the years 2010 to 2016; and if he will make a statement on the matter. [Q. No(s) 24 to Minister for Financ...

National Asset Management Agency - NAMA - reports

Sitting date: 10/10/2017
[Written Answers] I wish to advise the Deputy that as outlined in my response to Dáil Question No. 80 of 26 September, 2017, a stipulation of the European Commission's decision , of 26 February 2010, on the "Establishment of a National Asset Management Agency (NAMA): Asset relief scheme for banks in...

National Asset Management Agency - Operations - issues relating to

Sitting date: 10/10/2017
[Written Answers]...the persons or organisations that are the 51% owners of the NAMA group; the shareholding of each of these persons and organisations; the amount of dividend paid to each in each year to date since NAMA was established; the expected dividend that will be paid to them between Octobe...

National Asset Management Agency - Operations - issues relating to

Sitting date: 10/10/2017
[Written Answers] I wish to advise the Deputy that in its decision issued in July 2009, Eurostat (the statistical office of the European Union) ruled that special purpose vehicles (SPVs) which were majority owned by private companies would be regarded as being outside of the government sector if the...

National Asset Management Agency - Portfolio - issues relating to

Sitting date: 10/10/2017
[Written Answers]...the housing and commercial properties in the possession of NAMA in County Tipperary; and if he will make a statement on the matter. [Q. No(s) 42 to Minister for Finance ]

National Asset Management Agency - Portfolio - issues relating to

Sitting date: 10/10/2017
[Written Answers] The Deputy will be aware that NAMA does not, in general, own property. Rather, NAMA acquired loans for which the properties act as security. Under Sections 99 and 202 of the NAMA Act, NAMA is prohibited from disclosing confidential debtor information, including information on ...

National Asset Management Agency - Social housing - provision

Sitting date: 10/10/2017
[Written Answers]...if he has received approval from the European Commission to reform NAMA in order to allow it to develop social and affordable housing on State owned land; and if he will make a statement on the matter. [Q. No(s) 65 to Minister for Finance ]

National Asset Management Agency - Social housing - provision

Sitting date: 10/10/2017
[Written Answers] The Deputy will be aware that NAMA is a wind down vehicle, which is repaying its debt and maximising the value of its remaining assets. There are valuable expertise and skills in NAMA which may have a role to play in future housing delivery. Work is ongoing in considering how t...

National Asset Management Agency - Debtors - agreements

Sitting date: 03/10/2017
[Written Answers]...the sum advanced to developers by NAMA in loans; the percentage of this sum currently repaid; the quantum of loans in arrears; and the percentage of loans in arrears. [Q. No(s) 111 to Minister for Finance ]

National Asset Management Agency - Debtors - agreements

Sitting date: 03/10/2017
[Written Answers] In order to meet its primary objective of obtaining the best achievable financial return for the State from its acquired loans, NAMA may provide funding to its debtors and receivers to protect and enhance their assets so as to optimise their income-producing potential and disposal ...

National Asset Management Agency - NAMA - reports

Sitting date: 26/09/2017
[Written Answers] A stipulation of the European Commission's decision of 26 February 2010 on the "Establishment of a National Asset Management Agency (NAMA): Asset relief scheme for banks in Ireland", (Ref: State aid N725/2009 - Ireland), was a requirement that the Irish authorities "report on a yea...

National Asset Management Agency - NAMA - reports

Sitting date: 26/09/2017
[Written Answers]...if his department has issued yearly reports to the EU Commission for the Directorate General for Competition on the use of NAMA's post acquisition powers; the number of yearly reports that have been issued to date; and if he will make a statement on the matter. [Q. No(s) 80 to Mi...

National Asset Management Agency - Loan book - value

Sitting date: 20/09/2017
[Written Answers]...the position regarding the par value of the remaining loan held by NAMA; the number of employees NAMA has; and if he will make a statement on the matter. [Q. No(s) 198 to Minister for Finance ]

National Asset Management Agency - Loan book - value

Sitting date: 20/09/2017
[Written Answers] I would firstly refer the Deputy to my response to Parliamentary Question 94 of 29 June 2017, where I highlighted page 46, in particular, of the 2016 NAMA Annual Report, which outlines that the outstanding principal balance of NAMA’s loans and receivables portfolio at end-2016 was ...

National Asset Management Agency - Operations - issues relating to

Sitting date: 20/09/2017
[Written Answers]...the redundancy scheme operated by NAMA; the number of staff that availed of the redundancy scheme; the overall cost to the agency; and if he will make a statement on the matter. [Q. No(s) 199 to Minister for Finance ]

National Asset Management Agency - Operations - issues relating to

Sitting date: 20/09/2017
[Written Answers] I would refer the Deputy to Dáil Questions No. 64 of June 22, 2017 and No. 273 of May 2, 2017, which outline that the NAMA retention and redundancy scheme was established to help safeguard NAMA’s performance, aid the Agency in retaining its operational capabilities through the rete...

National Asset Management Agency - Loans - sale

Sitting date: 11/09/2017
[Written Answers]...further to the parliamentary question number 83 of 18 May 2017, the three bidders and the corresponding portfolio that were successful following their reverse inquiry; and if he will make a statement on the matter. [Q. No(s) 229 to Minister for Finance ]

National Asset Management Agency - Loans - sale

Sitting date: 11/09/2017
[Written Answers] I am advised by NAMA that, following openly marketed processes, the successful bidders in each referenced loan sale were as follows: Loan sale Initial bidder query Aspen Starwood Abbey Apollo Jewel Allianz (Hammerson and Allianz were ultimately the successful bidders)

National Asset Management Agency - Portfolio - issues relating to

Sitting date: 11/09/2017
[Written Answers]...the number and acreage of NAMA owned properties and landbanks by property type (details supplied) and by county, in tabular form. [Q. No(s) 131 to Minister for Finance ]

National Asset Management Agency - Portfolio - issues relating to

Sitting date: 11/09/2017
[Written Answers] The Deputy will be aware that NAMA does not, in general, own land or property. Rather, NAMA’s role is as a secured lender and the properties which NAMA holds security over continue to be owned and managed by the original property owner, or insolvency practitioner where one is appo...

National Asset Management Agency - Expenditure - issues relating to

Sitting date: 26/07/2017
[Written Answers]...the amount NAMA paid out to developers for repair and maintenance of properties it once owned. [Q. No(s) 198 to Minister for Finance ]