The National Treasury Management Agency is to raise money on international markets with a new 20 year bond, restricted to investments in environmentally sustainable public projects.
The bond will mature in October 2043 and the money it raises will be used under the terms of the Irish Sovereign Green Bond framework.
This means it will be invested in projects with an environmental or sustainable goal.
Market sources indicate that between €2 billion and €3 billion may be raised when the bond comes to market, which may be as early as tomorrow.
The NTMA has already indicated it intends to raise between €7 billion and €11 billion this year.
It has kicked off its annual funding drive with a syndicated sale in each of the last 10 years.
BNP Paribas, Bank of America Securities, Cantor Fitzgerald Ireland, Danske Bank, Deutsche Bank and Nomura have been mandated by the NTMA as joint lead managers for the transaction.
