Economics: NTMA raises €1.25bn in dual bond auction

Ireland’s National Treasury Management Agency raised €1.25bn in a dual bond auction yesterday.

The agency said it sold €800m of nine-year bonds at a yield of 0.536% and €450m of 28-year debt at a yield of 1.704% in its final bond auction of the year, with both issues well covered.

The NTMA had originally planned to issue €9-13bn in long-term debt this year. But it has now raised €15.75bn via benchmark sales and a further €610m in its first-ever sale of inflation-linked bonds to facilitate the early repayment of some of its 2010 bailout loans.

The Department of Finance said in September that it would seek early repayment of €5.5bn of bailout loans consisting of its outstanding debt to the International Monetary Fund, Denmark and Sweden. It said it hoped to save around €150m in the process.

Dylan Simmonds
Equity Analyst

Darren McKinley, CFA
Senior Equity Analyst