NTMA Announces Results of Buyback/Switch of the 4.6% Treasury Bond 2016

2 July 2014 - The National Treasury Management Agency (NTMA) has completed its buyback/switch operation in relation to the 4.6% Treasury Bond 2016.

A total of €1,077.5 million nominal of the 4.6% Treasury Bond 2016 was bought back by the NTMA on an outright basis at a price of €107.77 (yield 0.165%). The switch transaction comprised a total of €959 million nominal of the 4.6% Treasury Bond 2016 bought back at a price of €107.77 (yield 0.165%) and a total of €479.5 million nominal of the 3.9% Treasury Bond 2023 sold at a price of €114.177 (yield 2.095%). The switch was done on a 2 for 1 nominal basis.

Included in the €1,077.5 million nominal of the 4.6% Treasury Bond 2016 bought back on an outright basis was an amount of €800 million nominal that the NTMA had acquired as part of its normal operations in the secondary bond market.

Following the outright buyback and switch a total of €2,036.5 million nominal of the 4.6% Treasury Bond 2016 has been cancelled which reduces the amount outstanding from €10,168.5 million to €8,132 million. The total outstanding of the 3.9% Treasury 2023 will increase from €5,000 million to €5.479.5 million.

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