State seeking to raise €750m in bond auction

NTMA expects to raise €20bn on markets this year to cover budgetary expenses

The NTMA.  Borrowing €4 billion a year to fund the Government’s new housing  strategy will also be supported by international funding markets

The NTMA. Borrowing €4 billion a year to fund the Government’s new housing strategy will also be supported by international funding markets

 

The State is seeking to raise up to €750 million through the auction of a bond on Thursday, the National Treasury Management Agency (NTMA) has announced.

The auction will see one bond being auctioned which matures on April 25th, 2022.

The latest auction will be conducted on the Bloomberg Auction System, and is confined to recognised primary dealers. A non-competitive auction will immediately follow the competitive auction, and will close at 10am on October 18th.

The NTMA expects to raise up to €20 billion on bond markets this year to cover a budget gap caused by the Government’s response to the Covid-19 pandemic and potential fallout from Brexit.

Borrowing €4 billion a year to fund the Government’s new Housing For All strategy will also be supported by international funding markets, NTMA chief executive Conor O’Kelly said in recent weeks.