Investor Presentaiton
Lower supply expected in coming years.
Lower borrowing costs also provides NTMA with flexibility
NTMA issued €42.5bn MLT debt since 2020 at 12.8 yr.
weighted maturity and avg. rate 0.19%
30 5.5
6
80
Revised borrowing requirements suggest NTMA issuance
won't match recent past in coming years (€bns)
25
3.9
20
2.8
15
10
5
50
st
70
4
60
3
50
EBR
1.5
40
2
40
0.8
0.9
0.9
30
1
0.2 0.2
20
0
Redemptions
0
Auction
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Syndication (€bns)
-Avg. Yield % (RHS)
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
Source: NTMA, Department of Finance LHS chart showing marketable MLT debt (auctions and syndications). Other
issuance such as inflation linked bonds, private placement and amortising bonds occurred but not shown.
10
0
Issuance (2018-2021)
Redemptions + est. EBR
(2022-25)
36
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