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NTMA raises €4 billion from sale of new 10-year benchmark bond

The original version of this press release was subsequently updated to include the press release issued by the joint lead managers for the transaction termsheet.

3 January 2018 – The National Treasury Management Agency (NTMA) has today raised €4 billion through the syndicated sale of a new 10-year benchmark Treasury Bond maturing in May 2028. The funds were raised at a yield of 0.944%.

There was strong and broad-based demand for today’s transaction. The total order book of over €14 billion included in excess of 140 individual accounts. Of the €4 billion issued, almost 90% was taken up by overseas investors, including U.K. (38%), Americas (15%), Germany/Austria (14%), Nordics (10%).

The main investor categories were asset managers (37%), banks (24%), pension funds/insurance (19%) with the balance spread across hedges funds, central banks and official institutions.

 “There was strong investor demand for today’s sale, which is the first European sovereign deal of 2018. The success of the transaction gets our 2018 funding programme off to a positive start and further strengthens our funding position,” said NTMA Director of Funding and Debt Management, Frank O’Connor.