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NTMA raises €4 billion from sale of new 20-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 and the transaction termsheet.

4 January 2017 – The National Treasury Management Agency (NTMA) has today raised €4 billion through the syndicated sale of a new 20-year benchmark Treasury Bond maturing in May 2037. The funds were raised at a yield of 1.734%.

There was strong and broad-based demand for today’s transaction. The total order book of over €11 billion included 255 individual accounts. Of the €4 billion issued, 97% was taken up by overseas investors, including Germany/Austria (31%), the UK (25%), Nordics (10%), Americas (8%), Other Europe (7%), Switzerland (7%), France (5%) and Asia /Middle East (4%).

“Today’s sale, the first European sovereign deal of 2017, represents a substantial portion of our targeted issuance of €9 to €13 billion. The strong investor appetite within the order book enabled an increase in the transaction size to €4 billion, further strengthening our funding position” said NTMA Director of Funding and Debt Management, Frank O’Connor.