NTMA raises €5 billion at government bond auction

THE latest government bond auction has resulted in the National Treasury Management Agency (NTMA) raising €5 billion – a quarter of Ireland’s borrowing requirements for this year.

The NTMA raised €5bn through the auction, a syndicated deal involving six banks, attracting orders of over €7bn for the amount available for issue. Up to 80% of the bond has been placed with pension funds, insurance companies, asset managers and banks.

Earlier this month, the NTMA said it would aim to raise €20bn in borrowings in 2010, which would push the national debt up to €95bn from just over €75bn at the end of 2009.