National Asset Management Agency Act 2009
Financing arrangements — NAMA, etc., may issue debt securities.
48.— (1) NAMA or a NAMA group entity may, whenever and so often as it thinks fit, create and issue debt securities—
( a) bearing interest at such rate as it thinks fit, or no interest,
( b) for such cash or non-cash consideration or deferred consideration as it thinks fit, and
( c) subject to such terms and conditions as to repayment, repurchase, cancellation and redemption or any other matter as it thinks fit.
(2) When NAMA or a NAMA group entity issues debt securities under this section NAMA or the NAMA group entity shall specify which of the following is the purpose of the issue:
( a) the financing of the general operations of NAMA or the NAMA group entity, as the case may be;
( b) the providing of consideration for the acquisition of bank assets.
(3) The Minister may guarantee debt securities issued by NAMA or a NAMA group entity under this section.
(4) Securities issued under this section shall be used only for the purpose specified under subsection (2) .