NTMA to hold bond auction next week, another in May

Tuesday 01 April 2014 11.11
NTMA outlines auction schedule for the second quarter of 2014
NTMA outlines auction schedule for the second quarter of 2014

The National Treasory Managment Agency will hold its second bond auction of 2014 next week and another in early May as it continues to demonstrate regular market access following the completion of its EU/IMF bailout.

The NTMA made a successful return to regular bond auctions last month, raising €1 billion from 10-year debt at record-low yields.

The country is already funded into next year and is aiming to raise €8 billion this year to complete pre-funding for 2015.

Almost 60% of this it has already garnered from last month's auction and a 10-year issue in January.

The details of the April 10 auction will be announced on Monday, the NTMA said. It will hold another bond auction on May 8 and will also hold treasury bill auctions on May 15 and June 19.

The NTMA also said that as part of its normal operations, it had cancelled €750m of a bond due to mature in February next year. This leaves €2.88 billion outstanding of the bond which was issued in February 2012.