Business Irish

Thursday 12 December 2019

Government to borrow for 15 years on the markets

Minister for Finance Michael Noonan
Minister for Finance Michael Noonan

Donal O’Donovan

The Government is to borrow for 15 years on the markets - in a deal that could raise funds help repay a share of the IMF bailout debt early.

The National Treasury Management Agency has nominated CITI, Danske Bank, Davy, Morgan Stanley, Nomura and Royal Bank of Scotland as joint lead managers to arrange the hugely long term loan.

Cantor Fitzgerald analyst Ryan McGrath has said that strong investors demand and low borrowing costs mean Ireland would be able to tap the markets for 15 year debt when it looks to repay the first €6.1bn tranche of the IMF loans later this year.

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