NTMA to raise €750m in bond auction this week

The National Treasury Management Agency (NTMA) is to raise €750m from the sale of six-year treasury bonds on Thursday.

The bonds will be sold at the NTMA’s first auction since the formation of the new government.

The auction of the 0.8pc 2022 treasury bonds, which will conducted on the Bloomberg Auction System, will begin at 8 am on Thursday and is confined to recognised primary dealers only.

A non-competitive auction for 15pc of the amount sold in the competitive auction will immediately follow and will close at 10 am on Friday.

In March the NTMA issued its first ever 100-year government bond at an extraordinary low rate of 2.35pc.

The bond was sold by private placement through Goldman Sachs International Bank and Nomura. Following the successful sale of the bond the NTMA has said it remains open to more sales similar to the 100-year bond sale.

Article Source: http://tinyurl.com/kbwqb42