Irish Bad Bank Said to Plan Optional Debt Payout on Outlook

Ireland’s National Asset Management Agency, the nation’s bad bank, plans to make a first optional interest payment on its riskiest securities as the outlook for its commercial real-estate assets improves, according to a person with knowledge of the matter.

NAMA, based in Dublin, will pay the discretionary coupon on the 1.6 billion euros ($2.2 billion) of junior securities used as part payment to the nation’s banks for toxic real estate loans in 2010 next month, said the person, who asked not to be named as the details aren’t yet public. The agency’s 2013 profit will beat the 228 million euros posted in the prior year, said the person.