Tougher Oil to be sold after Nama debt writedown

The National Asset Management Agency has paved the way for the sale of Tougher Oil Distributors.

Ian Kehoe - avatar

Ian Kehoe

24th February, 2013

The National Asset Management Agency (Nama) has paved the way for the sale of Tougher Oil Distributors after it wrote down its exposure to the struggling Co Kildare fuel distributor by almost 60 per cent.

The agency has taken a €26.2 million haircut on its €44 million loans to Tougher, while Bank of Scotland (Ireland) (BoSI) has written down €50.78 million from its Tougher debt pile.

The move by the lenders has facilitated the sale of...

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