The following are the main points of the first loan transfers to Nama :
1 Nama will acquire over 1,200 individual loans with nominal value of €16 billion for a consideration of €8.5 billion, an average discount of 47 per cent.
2 It transferred an initial tranche of loans from Irish Nationwide Building Society and EBS Building Society yesterday.
3 The Agency will transfer the first batch of loans from Bank of Ireland on Friday, April 2nd.
4 The first tranche of loans from AIB and Anglo Irish Bank are expected to be completed by early April.
5 Transfer of remaining loans from all five institutions is expected to be completed by the end of the year and no later than end February 2011, a deadline set by the European Commission.
6 Nama anticipates it will purchase loans with a nominal value of €81 billion.
7 Nama will pay AIB €1.88 billion for loans worth €3.29 billion, a discount of 43 per cent.
8 It will pay €5 billion for €10 billion of Anglo Irish loans.
9 Bank of Ireland will get €1.26 billion for loans worth €1.93 billion.
10 Three institutions will invest €17m each for a 51 per cent shareholding in National Asset Management Agency.
11 The investors are Irish Life Assurance, New Ireland and major pension and institutional clients of AIB Investment Managers (AIBIM).
12 Nama will hold the remaining 49 per cent but will have a veto over all decisions that are not in accordance with the objectives of Nama as specified under the Nama Act.