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State burrows €1bn at rock-bottom interest rate

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NTMA chief Conor O'Kelly

NTMA chief Conor O'Kelly

NTMA chief Conor O'Kelly

THE State has borrowed €1bn for thirty years at a price that effectively amounts to the rock-bottom interest rate of just 1.307pc a year.

Investors offered to lend more than €2bn in the first bond deal since the European Central Bank (ECB) launched its quantitative easing (QE) programme of buying bonds.

The National Treasury Management Agency auctioned the bonds, due to be repaid in 2045, earlier today.

Its the lowest interest rate ever for the State on such long term financing.

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