Irish Bad Bank Said to Plan $6.4 Billion Real Estate Loan Sales
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Ireland’s National Asset Management Agency plans to sell two portfolios of property loans with a face value of 6 billion euros ($6.4 billion) as it winds down its stock of risky commercial real estate debt, three people with knowledge of the matter said.
The loans will be split into two groups of 3 billion euros each and will be sold at a discount, said the people, who asked not to be identified because the plans are private. A spokesman for NAMA declined to comment.