NTMA issues update on guidance for 2020 funding range

24 July 2020: Following the announcement of the Government’s July stimulus measures yesterday, the NTMA is now guiding that total bond funding activity this year will be at the upper end of the €20bn to €24bn funding range.

The Agency has raised €20bn in long-term bond funding so far in 2020, at an average yield of 0.27% and an average maturity of more than 11 years. This represents over 80% of the upper end of the €20bn to €24bn range.

Frank O’Connor, NTMA Director of Funding and Debt Management, said:

“Our guidance takes account of our levels of pre funding entering 2020, additional funding flows from private placements with ultra-long maturities, increased retail inflows into State Savings, and strong demand for our Treasury Bills and Euro commercial paper.

As set out in our Q3 funding schedule announced earlier this month, our next bond auction is scheduled for September and we will continue to monitor fiscal developments in the interim.”

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