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

15 June 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 €1.5 billion.


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.

Following today’s transaction, €7.5 billion nominal of the Floating Rate Bonds have been bought from the CBI by the NTMA and subsequently cancelled (Table 1). For a summary of the bonds issued and outstanding, see Table 2.

Table 1 – Floating Rate Bonds cancelled

YearAmount
€ billion
20140.500
20152.000
20163.000
20172.000
Total7.500


Table 2 – Floating Rate Bonds outstanding

BondIssued Feb ‘13Outstanding Jun ‘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 20453.0001.500
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
Total25.03417.534
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