Business

Monday 14 July 2014

Govt plans to raise another €4.25bn on the markets in 2014

Donal O’Donovan

Published 12/02/2014|18:05

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THE Government plans to raise another €4.25bn on the markets this year, to hit a target for 2014 of €8bn of new borrowings.

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The National Treasury Management Agency (NTMA) said it will set out a calendar for new bond deals at the start of every quarter/

The NTMA confirmed that its “indicative target” for government borrowing during 2014 is approximately €8bn.

A bond auction held in January means that €3.75bn of that has already been raised – leaving €4.25bn. 

The “working plan” is to borrow that through a series of bond auctions ranging in size from €500m to €1bn, the debt agency said in a statement.

The plan is to hold one or two auctions per quarter, with the next auction due to take place on Thursday 13th March 2014.

“Bond auctions will normally be held on the second Thursday of a month,” the agency said.

As well as new auctions bond investors may be invited to switch bonds falling due in 2016 for longer dated investments, the statement said.

Irish Independent

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