NTMA publishes annual funding statement for 2021

9 December 2020 – The National Treasury Management Agency (NTMA) announces that its planned long-term bond issuance for 2021 will be in a range between €16 billion and €20 billion.

This represents a reduction on the €24 billion in long-term bonds issued during 2020.

With no long-term bond maturities arising in 2021, the key driver of the funding range is the Exchequer Borrowing Requirement, which was forecast at €18 billion in Budget 2021.

The NTMA will issue a statement at the beginning of each calendar quarter outlining the bond auction plans for that quarter.

The NTMA will continue to issue Treasury Bills during 2021 and further details will be contained in the quarterly announcements.

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

"Our strategy of pre-funding liabilities has allowed us to respond to the challenges of the Covid pandemic from a position of strength.

This strategy gave us flexibility during 2020 to match our increased borrowing requirements with investor demand.

With one of the longest maturity profiles in Europe and lower redemptions over the next 4 years, we have additional flexibility in meeting future borrowing requirements.”

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