Government set to issue 30-year bonds
The State will this week borrow €3bn for 30 years on the bond market, tapping demand for long-term debt among asset-starved investors.
The National Treasury Management Agency (NTMA) announced plans for a new syndicated bond maturing in 2050, and is understood to be looking to borrow €3bn.
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With the Exchequer on course to generate a surplus this year, the money raised will go to pay off existing debt.
Barclays, BNP Paribas, Cantor Fitzgerald Ireland, Danske Bank, Deutsche Bank and Goldman Sachs are managing syndication to investors. A regular bond auction planned for this week has been postponed.