NTMA issues update on guidance for 2021 funding range

14 July 2021: Following the publication of the Irish Government’s July Summer Economic Statement (SES) today, the NTMA is updating guidance for its 2021 funding range.

As the NTMA, post its July auction, has already raised €14.75bn in long term bond funding, it is now guiding a narrower funding range of €18bn to €20bn for the year. This compares with previous guidance of €16bn to €20bn.

The €14.75bn raised so far this year has an average yield of 0.13% and an average maturity of more than 14 years. This represents close to 80% of the midpoint of the new narrower €18bn to €20bn funding range for 2021.

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

"Our guidance takes account of our progress year to date and levels of prefunding entering 2021, along with additional funding from private placements with ultra-long maturities and continued retail inflows into State Savings.

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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