Central Bank sells further €500m in legacy Anglo debts

The Central Bank has sold another €500 million in debt linked to the collapse and bailout of Anglo Irish Bank. The National Treasury Management Agency (NTMA) announced on Tuesday that it has bought and cancelled the floating rate treasury bonds, which had been due to mature on June 18th, 2051.

The debt purchased brings the total debt that the NTMA has acquired in connection with the Irish Bank Resolution Corporation Act 2013 to €17 billion.

The NTMA has been moving regularly over recent years to replace the Central Bank-held bonds with money raised from investors in the current low interest-rate environment.

This is the first such sale and cancellation of this year and follows four similar moves in relation to the Anglo legacy debt in 2019.

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The Central Bank received some €25 billion of Government bonds in February 2013 under a complex restructuring of promissory notes used by the State to rescue Anglo Irish Bank during the financial crisis.

The NTMA has bought back and duly cancelled all of the IBRC-connected debt with due dates between 2038 and 2049. The bonds that remain at the Central Bank have due dates between 2051 and 2053.