Friday 28 July 2017

State plans to borrow between €1-1.25bn on markets through two bond deals

Donal O'Donovan

Donal O'Donovan

The State plans to borrow between €1bn and €1.25bn on the markets this Thursday, through two bond deals.

The National Treasury Management Agency (NTMA) said it will issue separate bonds due to be repaid in 2022 and 2026 to raise the funds.

The NTMA has said it plans to borrow €9bn to €13bn in total on the markets this year.

This week’s deal could see it exceed 50pc of the target already.

In January the NTMA borrowed €4bn for 20 years in the first bond deal of the year.

The money was raised at an interest rate of 1.72pc per year.

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