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Ireland's NAMA to pay 84 million euro discretionary coupon

Reuters - UK Focus

DUBLIN, Feb 18 (Reuters) - Irish state-run "bad bank" NAMA is to pay a discretionary coupon of 84 million euros ($95.47 million) on its 1.6 billion euros of subordinated debt, a spokesman said on Wednesday.

NAMA is one of the world's largest property groups and purged Irish banks of risky loans worth 74 billion euros following a property crash that pushed the country into a bailout four years ago.

Roughly half of the bonds are held by Allied Irish Banks and Bank of Ireland (Other OTC: IRLD - news) , according to investment bank Investec (LSE: INVP.L - news) .

"This reflects the improved outlook for repaying NAMA's senior debt and subordinated debt," the spokesman said. It is the second discretionary coupon on the bond after a similar payment last year. ($1 = 0.8799 euros) (Reporting by Conor Humphries; editing by Susan Thomas)