NTMA cancels €500 million of the Irish Floating Rate Treasury Bond 2045

3 May 2017 – The National Treasury Management Agency (NTMA) announces the cancellation of €500 million of the Irish Floating Rate Treasury Bond due to mature on 18 June 2045.

The bonds, which were issued in connection with the Irish Bank Resolution Corporation Act 2013, were purchased today from the Central Bank of Ireland. Following this cancellation, the total nominal outstanding for this bond will reduce to €2 billion.

For further information on outstanding government bonds please refer to https://www.ntma.ie

Notes to Editors:

On 8 February 2013 the NTMA issued €25.034 billion nominal of Floating Rate Bonds, with original maturities ranging from 25 to 40 years, which were exchanged for the Promissory Notes held by the Central Bank of Ireland (CBI), on foot of the Irish Bank Resolution Corporation Liquidation.

The bonds pay interest every six months (June and December) based on the 6-month Euribor interest rate plus a fixed margin which averages 2.65% across the bonds currently outstanding.

Following today’s transaction, €7 billion nominal of the Floating Rate Bonds have been bought from the CBI by the NTMA and subsequently cancelled.

BondIssued Feb ‘13Outstanding May ‘17
€ billion€ billion
Floating Rate Treasury Bond 20382.000
Floating Rate Treasury Bond 20412.000
Floating Rate Treasury Bond 20432.000
Floating Rate Treasury Bond 20453.0002.000
Floating Rate Treasury Bond 20473.0003.000
Floating Rate Treasury Bond 20493.0003.000
Floating Rate Treasury Bond 20515.0005.000
Floating Rate Treasury Bond 20535.0345.034
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