Ireland sells first 100-year bond

Raising €100 million for the State

Ireland sells first 100-year bond

Picture by: Julien Behal / PA Archive/Press Association Images

The National Treasury Management Agency (NTMA) has issued Ireland's first 100-year bond, raising €100 million in the process.

The bond carries an annual yield of 2.35% and will be repaid in 2116 – the bicentenary of the Easter Rising.

It was sold by private placement via Goldman Sachs International Bank and Nomura International.
Frank O'Connor, NTMA's director of funding and debt management, said:

"This ultra-long maturity is a significant first for Ireland and represents a big vote of confidence in Ireland as a sovereign issuer".

The longest previous debt issued was a 30-year bond.

Meanwhile, the interest rate on the country's government debt fell further this week.

Irish 10-year bond yields were quoted at 0.73 - 0.74% on Tuesday, with longer-dated bonds also making gains.