An €8.3 billion loan portfolio being auctioned by Nama is expected to fetch as little as €1.5 billion, a figure that shows the scale of distressed loans still on the balance sheet of the state loan agency.
Valuations are currently being finalised on Project Arrow, a portfolio that includes the loans of 500 small and medium developers. Based on initial projections, the portfolio is worth between €1.5 billion and €2 billion.
Many of the loans being...
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