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NTMA raises €5 billion from sale of new 10-year benchmark bond

13 March 2013 – The National Treasury Management Agency (NTMA) has today raised €5 billion through the sale of a new benchmark Treasury Bond maturing in March 2023. The funds were raised at a yield of 4.15 per cent.

Of the amount issued today 18 per cent was taken up by domestic investors and 82 per cent by overseas investors. The overseas investors were mainly from the U.K. (25%), Germany (12%), the Nordic region (12%), France (11%) and the U.S. (7%).

There was broad investor interest in the issue with over 400 investors submitting bids, including fund managers, banks, pension funds and insurance companies. The total bids received amounted to some €13 billion.

Today’s sale is the NTMA’s first new 10-year issuance since January 2010 when €5 billion of the October 2020 bond was issued at a yield of 5.091 per cent.

NTMA Chief Executive John Corrigan said the successful new bond issue demonstrates that Ireland has regained access to the international debt markets.

“Today’s transaction – particularly the size and breadth of the order book – represents a strong vote of confidence by the international debt markets in Ireland.

We are now well placed to give investors the comfort of having 12-15 months’ advance funding in place when the EU/IMF programme reaches it scheduled end. This visibility on our funding is vital.”

 


Term Sheet for March 2023 Treasury Bond (50.5 KB)

Press release issued by syndicate, 13 March 2013 (70.5 KB)