The State is seeking to raise up to €1.5 billion million through an auction of long-term bonds next week, the National Treasury Management Agency (NTMA) has announced.
The auction will see three bonds being auction, one of which matures in 2031 and the others in 2045 and 2050. It is expected to raise between €1 billion and €1.5 billion, the NMTA said.
The latest auction will be conducted on the Bloomberg Auction System, and is confined to recognised primary dealers. A non-competitive auction will immediately follow the competitive auction, and will close at 10am on October 18th.
The NTMA expects to raise up to €20 billion on bond markets this year to cover a budget gap caused by the Government’s response to the Covid-19 pandemic and potential fallout from Brexit.
Borrowing €4 billion a year to fund the Government’s new Housing For All strategy will also be supported by international funding markets, NTMA chief executive Conor O’Kelly said last week.
