DUBLIN, Dec 17 (Reuters) - Ireland's National Asset Management Agency on Wednesday said it had redeemed another 500 million euros ($623.10 million) of senior debt from the banks who sold the agency 74 billion euros of bad loans in the aftermath of the financial crisis.
On the back of Ireland's economic recovery, state-backed Nama is paying back the banks faster that originally envisaged and has now redeemed 16.6 bln eur of senior debt from the banks, 55 percent of the total issued.
Nama also announced that it had selected Singapore-headquartered property developer Oxley Holdings as the preferred bidder for a 2.35 hectare site in Dublin city centre next to the Central Bank of Ireland's new head office.
The agency would not give any value of the deal, which is Oxley's first in Ireland.
$1 = 0.8024 euros Reporting by Laura Noonan; editing by Jason Neely