State’s debt office to auction €750m of bonds on Thursday

NTMA’s long-term fundraising so far this year tops €16.5bn

NTMA chief executive officer Conor O’Kelly at a press briefing in the Treasury Building on Grand Canal Street.

Mon Nov 05 2018 - 10:50

The National Treasury Management Agency (NTMA) is to auction €750 million of bonds on Thursday.

The State’s debt office will sell two bonds, one of which is due in 2023 at an interest rate of 3.9 per cent. The other, which is due in 2028, carries an interest rate of 0.9 per cent.

The auction will be conducted on the Bloomberg Auction System and will be confined to recognised primary dealers.

A non-competitive auction for 15 per cent of the amount sold in the competitive auction will immediately follow and will close at 10.00am on November 12th.

The NTMA’s long-term fundraising so far this year tops €16.5 billion, compared to its stated target of between €14 billion and €18 billion.

It received about €11.3 billion of orders last month from investors seeking to buy the Republic’s set of green bonds. The €3 billion of 12-year bonds on offer were priced to carry a market interest rate, or yield, of 1.399 per cent.