NAMA is in the process of getting its biggest sale to date on track by packaging together up to €8 billion in smaller debtor loans that will be brought to market over the next year or so.
The Irish Times reports that Nama will shortly appoint a sale adviser to handle the loan disposals.
The loans relate to about 500 Nama debtors and involve various other interest and properties.
The loans are all €75 million or less in face value and have been managed on Nama’s behalf by either the individual banks or Capita, a specialist asset servicer.
It is understood that Capita has been notified by Nama of its plans to sell these loans.
Nama could choose to sell all the loans in one large portfolio.
However, the agency is expected to bundle them into a number of portfolios and to sell them separately. It is hoping to capitalise on the strong international investor appetite that currently exists for Irish assets.
Nama is aiming to complete these disposals by the middle of next year. Source: The Irish Times.