The National Treasury Management Agency (NTMA), the asset and liability management arm of the Irish Government, sold €600 million of 4.5p.c. treasury bond 2020 at auction on April 15th.
The bonds were 3.3 times oversubscribed, and the highest accepted price was 98.25, yield 4.658 per cent, the lowest accepted price was 98.22, yield 4.660 per cent and the average price was 98.239, yield 4.659 per cent. Thirty per cent of bids at the lowest accepted price were filled.
According to the NTMA, Ireland will issue in total some €4 billion of bonds in 2004, which is some €2.5 billion less than in 2003, and according to the NTMA, reflects the absence of any significant debt maturities and the continued healthy state of the public finances. |
