Irish Sovereign Green Bonds Update
Near-term redemptions much lower than last four years;
lower borrowing costs also provides NTMA with flexibility
NTMA issued €104.5bn MLT debt since 2015;
13.4 yr. weighted maturity; avg. rate 0.75%
Even with extra Covid-19 borrowings, NTMA
might not match supply in 2017-2020 period
7.0
6.0
27
22
24
24
€ Billions
80
88
10
70
5.5
5.0
3.9
4.0
221
21
18
60
60
15
50
7Y
10Y
3.0
12
15Y
40
40
9
10Y |
2.0
1.5
20Y
60
30
0.8 0.9 1.1 0.9
1.0
5Y 5Y 10Y 7Y
5Y
0.2
3
8Y 10Y 16Y BOY 10Y 20Y
0.1
20
0.0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Auction
Syndication
Weighted Average Yield % (LHS)
YTD
10
Issuance (2017-20)
Redemptions + est. EBR
(2021-25)
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.
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