Ireland returns to international bond markets

Date: Thursday 26 Jan 2012

In a move which some are describing as the most significant since the country was frozen out of international debt markets last year, the Irish National Treasury Management Agency (NTMA) yesterday offered to swap investors’ holdings in the country’s short-term debt.

The NTMA’s offer was taken up by almost a third of the holders of its €11.8bn in debt maturing in January 2014 and yielding 4.9%. The country is exchanging those instruments for debt coming due in February 2015 and which carries a yield of 5.15%.

The above as the nation makes preparations to return to bond markets at the end of 2013. Ireland has stated that it does intend to carry out further operations of this type before then.

Some observers seem to believe that the above transaction may benefit from the ECB’s long-term refinancing operations.

The Irish Treasury has no debt coming due in 2015.

AB

« Go back to news channel

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE