NTMA raises €4bn through sale of 10-year bonds

The National Treasury Management Agency (NTMA) today raised €4bn through the syndicated sale of a new 10-year benchmark Treasury Bond maturing in May 2028.

The funds were raised at a yield of 0.944%.

The total order book of over €14bn included in excess of 140 individual accounts, the agency said in a statement.

Of the €4bn issued, almost 90% was taken up by overseas investors, including UK (38%), Americas (15%), Germany/Austria (14%) and Nordic countries (10%).

The main investor categories were asset managers (37%), banks (24%), pension funds/insurance (19%) with the balance spread across hedges funds, central banks and official institutions.

“There was strong investor demand for today’s sale, which is the first European sovereign deal of 2018. The success of the transaction gets our 2018 funding programme off to a positive start and further strengthens our funding position,” said NTMA director of funding and debt management, Frank O'Connor.

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