Ireland may sell dollar bond

 

SECURITIES:Ireland is considering selling a US dollar-denominated bond to open another funding avenue in its return to international markets, according to two people familiar with the proposed transaction.

The National Treasury Management Agency may issue the securities within the next two months, subject to Irish debt maintaining recent gains, according to a source who asked not to be named.

The bond may have a maturity of at least five years and will be sold through a syndicate of banks, the person said. The NTMA declined to comment. The yield on Ireland’s 5 per cent security due in October 2020 rose 2 basis points to 5.04 per cent yesterday, compared with 7.11 per cent on June 28, and in excess of 14 per cent in July 2011. – (Bloomberg)