NTMA will tap existing bond in bid to raise €2bn

The NTMA will look to raise about €2bn this week through a syndicated tap of an existing bond.

The NTMA has set a target of raising €10bn in new capital this year as it attempts to have €19bn in cash reserves when the country exits the bailout programme in November.

The agency issued a statement yesterday saying that it would seek to raise new money through a syndicated tap of the 2017 treasury bond in the near future, subject to market conditions.