The National Asset Management Agency has confirmed that it has redeemed €3 billion in senior bonds which were issued in 2010 and 2012. 

NAMA had said last month that it planned to redeem the bonds. 

This means that NAMA has now repaid a total of €10.5 billion in senior bonds to date.

Speaking in February, NAMA chairman Frank Daly said he expects the agency will be wound up before its original finish date of 2020, and will also achieve a surplus for the taxpayer.

NAMA intends to pay off half of its senior debt - €15 billion - by the end of the year and Mr Daly said the agency was stepping up the pace at which it sells off assets, to take advantage of a surge of investor interest in Ireland.