HSBC Investment Bank has been appointed as investment advisors to the National Asset Management Agency (Nama) and PricewaterhouseCoopers has been appointed tax advisors.
The National Treasury Management Agency, under whose auspices Nama is being created, said in a statement today that it was still evaluating tenders for the role of legal advisors and that a decision on this would be made on June 17th.
Nama will effectively be the Government’s “bad bank” and will take up to €90 billion worth of performing and impaired loans off the balance sheets of Irish banks in a bid to allow them to clean up their balance sheets.