Irish State raises €1.5bn at historic low bond cost

Auction deals boost confidence the Government will be able to finance  huge costs of fighting Covid-19

Conor O’Kelly, CEO of NTMA which raised varying amounts of money in auctions of the three bonds, including for a seven-year bond, its 10-year bond, and a 15-year bond. Picture: Conor McCabe Photography

The State has raised a total of €1.5bn selling three bonds at interest rates which for their type marked the lowest costs in its history, boosting confidence the Government will be able to finance the huge costs of fighting the Covid-19 pandemic just days before it reveals its 2021 budget plans.

The National Treasury Management  Agency (NTMA) raised varying amounts of money in auctions of the three bonds, including for a seven-year bond, its 10-year bond, and a 15-year bond.