Investor Presentaiton
Funding in 2017: more than €9bn of €9-13 billion complete
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Funding in 2017 - €9-13billion of long-term bonds planned
NTMA has issued €8.75bn in benchmark bonds so far:
January: The NTMA raised €4 billion through the syndicated sale of a new 20-year benchmark
Treasury Bond maturing in May 2037. The funds were raised at a yield of 1.734%.
February: €1.25bn issued in a dual auction of the 2022s and 2026s (yields of 0.09% and 1.03% resp.).
March: A dual-auction of the 2026s and 2045s raised €1.25bn (yields of 1.046% and 2.187%).
April: A dual-auction of the 2023s and 2026s raised €1.25bn (yields of 0.202% and 0.936%).
June: A dual-auction of the 2026s and 2045s raised €1bn (yields of 0.72% and 1.915%).
In April, the NTMA issued its first inflation-linked bond: €610m 23-year tenor, 0.25% coupon + Irish HICP
excluding tobacco.
The investor base continues to expand: International investors bought 97% of the bonds on offer in
January, led by Germany/Austria (31%), the UK (25%), and the Nordics (10%).
Among investor categories, the bias of the deal was to real money: asset/fund managers took 36%, banks
bought 28% and pension funds/ insurance companies purchased 16%.
The NTMA has also raised funds through a private placement and non-competitive auction phases
100-year paper issued in 2016
In 2016, the NTMA issued its first 100-year note by private placement. The €100m sold yielded 2.35%.
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
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