merrion street

Finance Minister Michael Noonan today welcomed the successful syndicated sale by the National Treasury Management Agency (NTMA) of €3.75 billion of bonds. Minister Noonan stated:

I welcome today’s successful sale by the NTMA of €3.75 billion of bonds maturing in March 2024. This sale shows that Ireland has fully exited the EU – IMF Programme of Assistance. The yield of 3.54% illustrates the strength of Ireland’s international reputation and brings us far closer to the borrowing rates of the strongest European economies.

The level of demand for today’s sale with some €14 billion of orders shows that the Government’s decision to exit the EU – IMF Programme without a precautionary credit line has built strong confidence amongst investors. It is particularly noteworthy that the orders of €14 billion for today’s sale exceed the €10 billion that could have been available under a precautionary programme.