Friday May 29, 2020

Ronan agrees a deal with Nama over €250m debts

Property developer Johnny Ronan has reached an agreement with the National Asset Management Agency (Nama) to refinance company debts of over €250 million.

22nd February, 2015

Ronan and his new financiers, primarily Colony Capital, a $20 billion US investment fund, finally reached a deal after more than a year of painstaking talks. Ronan only has minor paperwork now left before he exits Nama.

Companies linked to Ronan are believed to have gross borrowings of around €290 million owed to Nama. However, the developer has argued that some of his borrowings should be offset against complex issues around security, tax and legal bills.

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