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NTMA raises €4bn from the sale of new 20-year bond

The National Treasury Management Agency (NTMA) has raised €4bn through the syndicated sale o...
Newstalk
Newstalk

19.32 4 Jan 2017


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NTMA raises €4bn from the sale...

NTMA raises €4bn from the sale of new 20-year bond

Newstalk
Newstalk

19.32 4 Jan 2017


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The National Treasury Management Agency (NTMA) has raised €4bn through the syndicated sale of a new 20-year benchmark Treasury Bond.

The funds were raised at a yield of 1.734%, and the NTMA say there was "strong and broad-based demand" for the transaction on Wednesday.

The bond will mature in May 2037.

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The total order book of over €11bn included 255 individual accounts.

Of the €4bn issued, 97% was taken up by overseas investors - including Germany/Austria (31%), the UK (25%), Nordics (10%), Americas (8%), Other Europe (7%), Switzerland (7%), France (5%) and Asia /Middle East (4%).

The sale was the first European sovereign deal of 2017.

NTMA director of funding and debt management, Frank O'Connor, said the sale "represents a substantial portion of our targeted issuance of €9 to €13bn.

"The strong investor appetite within the order book enabled an increase in the transaction size to €4bn, further strengthening our funding position".

It comes as the Department of Finance say the Exchequer took in more tax than ever before in 2016 - with the Government collecting nearly €48bn.


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