Treasury agency to raise €3 billion bond

The asset and liability management arm of the Irish Government, Ireland's National Treasury Management Agency (NTMA), is seeking…

The asset and liability management arm of the Irish Government, Ireland's National Treasury Management Agency (NTMA), is seeking to raise a minimum of €3 billion in a bond issue.

NTMA Chief Executive Michael Somers confirmed the move today.

"It is probably a minimum of €3 billion," said Mr Somers. "We have a loan of €6 billion which we have to repay next week," he said.

"It is related purely to the refinancing of this loan."

The NTMA's primary role is that of borrowing for the Government and managing the National Debt but has had its remit expanded to include a responsibility for overseeing the management of the National Pensions Reserve Fund.

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