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Updated 15.03pm
THE IRISH GOVERNMENT has dipped into the bond market for the first time since the bailout exit last month, raising €3.75bn.
Ireland’s bond yields have now fallen to levels not seen since before the 2008 financial crisis, currently at 3.543 per cent.
Demand for the sale amounted to four times the value of the bond at €14 billion, and attracted interest from 400 fund managers, pension funds, insurance companies, banks and other investors, the National Treasury Management Agency (NTMA) said.
In a statement, NTMA Chief Executive John Corrigan. said today’s sale demonstrated that international and domestic markets “recognise the enormous progress Ireland has made”.
Today’s transaction is a real success that cements Ireland’s return to the international debt markets and provides a strong platform for bond auctions in 2014.
The NTMA announced yesterday that it had appointed Barclays , Citi Bank, Danske Bank, Deutsche Bank, Morgan Stanley and Davy Stockbrokers to manage the benchmark transaction.
Originally published 10.45am
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