Ireland raises €5 billion from the sale of a new 10-year benchmark bond
- Ireland raises €5 billion from the sale of a new 10-year benchmark bond.
- Funds raised at a yield of 3.145%.
- Over 40% of mid-point of €10 billion to €14 billion bond funding range complete.
14 January 2026 - The National Treasury Management Agency (NTMA) today commenced its 2026 bond funding programme by raising €5 billion through the syndicated sale of a new 10-year benchmark bond.
The funds were raised at a yield of 3.145%.
The bond matures in June 2036.
Today’s transaction saw strong demand from a diversified investor base with a total order book of over €43 billion which included almost 290 orders.
The largest distribution was to Benelux investors at 24%, closely followed by the UK at 23%. German, Austrian and Swiss investors bought 12%. The domestic investor base accounted for 10%. Italian investors bought 9%, France 8%, and Iberian and the Nordics each took 5%. Other European geographies took 2%, and investors from the rest of the world 2%.
The main investor categories were banks at 47%, followed by fund managers at 29%, central bank/official institutions at 15%, insurance and pension companies 6% and hedge funds 3%.
The €5 billion issued today means the NTMA has completed over 40% of the mid-point of its €10 billion to €14 billion bond funding range for 2026.
Following today’s syndication, the NTMA will hold its first bond auction of the year on 12 March.
NTMA Director of Funding and Debt Management Dave McEvoy said:
“Today’s issue of a new 10-year benchmark bond marks a positive start to our 2026 funding programme.
The strong investor appetite reflects the ongoing demand for Irish Government bonds and Ireland’s AA credit rating, which is on positive outlook with two rating agencies.
This transaction means we have raised over 40% of the mid-point of our €10 billion to €14 billion bond funding range, leaving us well positioned to meet the Exchequer’s funding needs over the remainder of the year”.
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.