NTMA €6bn bond ‘oversubscribed’

THE National Treasury Management Agency (NTMA) has said its €6.0 billion benchmark bond was oversubscribed with appetite from over 140 investors.

The NTMA had sought to raise €3bn in its five-year issue and said the total book size was €7.3bn.

“Given the strength of the demand that was there, we said we would take advantage of it since we have very significant issuance requirements this year,” the NTMA’s director of funding and debt management, Oliver Whelan, said.

Whelan said the NTMA would hold its first bond auction of the year in February aiming to raise €750m to €1.25bn.