Government to raise €750m in bond auction

THE National Treasury Management Agency is to raise €750m in a bond auction on Thursday April 14.

Earlier this month, the agency, which is responsible for borrowing on behalf of the exchequer, borrowed €100m through issuing Ireland’s first-ever 100-year note with an interest rate of just 2.35pc. This is seen as very cheap for a transaction dating over such a long period, where so many things could happen that would negatively impact Ireland’s creditworthiness.

Read more: NTMA open to more 100-year note sales amid strong reaction

NTMA director of funding and debt management Frank O’Connor said the “ultra-long maturity is a significant first for Ireland and represents a big vote of confidence in Ireland as a sovereign issuer”.

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