NTMA considers partial redemption of €10bn bond

The NTMA is considering the partial redemption, sometime this year, of a €10bn bond due for repayment in 2016.

Speaking at the formal launch of the Government’s new Ireland Strategic Investment Fund in Dublin Castle, yesterday, agency chief John Corrigan said no final decision had been made regarding the management of the bond, but some action on it forms part of the agency’s working plan for this year.

He said everything was under consideration, including a bond switch, which would result in the 2016 debt being swapped for a longer-dated maturity period, or an outright buyback.