Bloomberg News

Ireland’s NAMA Says Loan Sales Now Major Part of Strategy

September 29, 2011

Sept. 29 (Bloomberg) -- Brendan McDonagh, chief executive officer of the National Asset Management Agency, said loan sales will form “a major part if our strategy going forward.”

In a speech in Dublin today, he said he’s open to selling loans related to “individual assets, whole debtor connections or groups of loans by geography.”

He also said there’s “strong indicative interest from investors, mainly foreign, in purchasing Irish commercial property.” While “liquidity remains the key constraint,” the agency is “is ready to be innovative in monetising its portfolio with additional initiatives being progressed over the coming months.”

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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