Huge appetite for 10-year bonds as Government raises €5bn
IRELAND is celebrating the return to the bond markets after investors offered to lend a staggering €12bn to the Government for ten years.
Investors are bidding for a share in a €3bn IOUs being issued by National Treasury Management Agency (NTMA), the agency that manages the national debt.
The interest rate on the new deal is expected to come it at around 4pc, less than expected and well below even pre-bailout levels.
News of the huge appetite for the first Irish “10-year bond” since 2010 has swept through the global financial markets this morning.
The National Treasury Management Agency (NTMA) hired Barclays, Danske Bank, Davy, Goldman Sachs, HSBC and Nomura to manage the deal yesterday.
They have been inundated with orders for the bond, helping drive down the interest that can be charged.