NTMA raises €1.02bn

The National Treasury Management Agency (NTMA) yesterday raised €1.02bn through its first issue of amortising bonds, with an average yield of 5.91% and with maturities ranging from 15 to 35 years.

Moreover, the Government has raised a significant portion of the sovereign debt repayments scheduled for January 2014.

Commenting on the bond issues, NTMA chief executive John Corrigan said the transaction, combined with the bond switch and outright sale transaction of Jul 26 and the bond switch transaction of Jan 25, had in effect reduced the original ‘funding cliff’ of €11.9bn (due to the Jan 2014 bond maturity) by 80% to just under €2.4bn.