Ireland sees record demand of almost €70 billion for bond sale

Ireland kicked off the sale of a new 10-year bond today, its third so far this year via a syndicate of banks, that a market source said could raise €4 billion to plug the growing budget deficit.

Ireland’s debt agency has been tasked with raising €20-€24 billion euros this year compared to the €10-€14 billion envisaged at the start of 2020 to fund extra spending resulting from the coronavirus-related shutdown of the economy. Picture Nick Bradshaw

Ireland drew record demand of almost €70 billion for the sale of a new 10-year bond on Tuesday, its third so far this year via a syndicate of banks, that a market source had said could raise 4 billion euros to plug the growing budget deficit.