Nama set to auction Kelly’s €1.5 billion debt pile

23rd December, 2014

Nama plans to bring a €1.5 billion property loan book linked to developer Paddy Kelly and several business partners to market in January, a source connected with the agency said.

It will be the biggest Nama book sale since Cork developer Michael O’Flynn’s €1.8 billion face value debt sold to Blackstone for €1.1 billion.

The loans relate to properties connected with Kelly companies, the McCormack and Flynn families and a company...

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