The National Asset Management Agency said today that it has repaid all of the outstanding debt issued by the agency to acquire loans during the financial crisis.
NAMA said it had redeemed the outstanding €1.064 billion of subordinated debt. This completed the redemption of the €1.593 billion of subordinated debt issued by it during 2010 and 2011.
NAMA, or the country's "bad bank", was set in 2009 during the property crash here.
The agency used €31.8 billion of senior and junior debt to rid the country's nationalised banks of risky property loans with a face value of €74 billion.
"The full repayment of our subordinated debt represents another significant milestone for NAMA, particularly as it paves the way for the agency to commence the transfer of the first €2 billion of its surplus to the Exchequer later this year," commented NAMA's chief executive Brendan McDonagh.
"NAMA is now in a position to make a meaningful and tangible return of €4 billion to the State - a return that was not considered feasible a decade ago," Mr McDonagh added.