NTMA issues bond at record low yield

The NTMA issued a €1bn 10-year bond at a record low interest rate yesterday as it completed its 2015 pre-funding target.

The issue, which was 2.5 times over-subscribed, dropped to a record low yield of 1.63%. The last bond issue during the summer had a yield of 2.3%.

The NTMA has now done €8bn in pre-funding for 2015.