NTMA debt auction raises €1.25bn from bonds

Long-term debts sale brings total of €5.25bn raised so far this year by the agency

Photograph: iStock

Photograph: iStock

 

The National Treasury Management Agency (NTMA) has sold €1.25 billion in bonds in an auction on Thursday.

The latest debt sale include a 1.1 per cent Treasury Bond maturing in 2029, which had a yield of 0.846 per cent, and a 1.7 per cent Treasury Bond due to mature in 2037, with a yield of 1.414 per cent.

Both bonds were oversubscribed with the 2029 bond covered 2.2 times after receiving bids for a total of €2.13 billion of the debt. The were offers of €839 million for the €300 million of debt available in the 2037 bond, meaning it was 2.8 times oversubscribed.

The agency, which sold €4 billion of bonds in January also plans to auction short-term notes, known as Treasury Bills, on March 14th.

The NTMA is aiming to raise between €14 billion and €18 billion of long-term debt in capital markets this year as it continues its practice of raising money ahead of schedule to meet bond maturities.