NTMA Archives - Pat Carroll PCCO - Chartered Accountants & Tax Advisors

NTMA sells €750m of Irish Treasury Bills at negative interest rate

The National Treasury Management Agency today held an auction of Irish Treasury Bills and sold the target amount of €750m.    

The NTMA said that total bids received amounted to €3.71 billion which was nearly five times the amount on offer. 

The Treasury Bills, which have a maturity of five months, were sold at a yield of -0.43%.

Last week, the NTMA sold €1.5 billion of nine and 30 year bonds with yields of 0.043% and 0.792% respectively.

The NTMA last month revised its 2020 funding target of €20-24 billion, up from the €10-14 billion envisaged before the crisis. 

It has now issued €12.5 billion worth of bonds so far this year.

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NTMA sells €750m of Irish Treasury Bills at negative interest rate

The National Treasury Management Agency today held an auction of Irish Treasury Bills and sold the target amount of €750m.    

The NTMA said that total bids received amounted to €3.71 billion which was nearly five times the amount on offer. 

The Treasury Bills, which have a maturity of five months, were sold at a yield of -0.43%.

Last week, the NTMA sold €1.5 billion of nine and 30 year bonds with yields of 0.043% and 0.792% respectively.

The NTMA last month revised its 2020 funding target of €20-24 billion, up from the €10-14 billion envisaged before the crisis. 

It has now issued €12.5 billion worth of bonds so far this year.

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NTMA sells €750m of Treasury Bills in new auction

The National Treasury Management Agency today completed an auction of Irish Treasury Bills, selling the target amount of €750m. 

The NTMA said that total bids received for the Treasury Bills amounted to €2.305 billion which was over three times the amount on offer. 

The Treasury Bills, which have a maturity of six months, were sold at a yield of -0.25%.

Last week, the NTMA raised €6 billion in its largest bond sale for a decade, as it moves to boost its finances to fund “significant deficits” caused by the coronavirus pandemic.  

The NTMA raised the funds through the syndicated sale of a new seven-year bond, which attracted more than €33 billion worth of demand from 250 accounts.

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NTMA sells €500m of Treasury Bills with -0.535% yield

The National Treasury Management Agency has sold €500m worth of Treasury Bills.

The manager of the State’s finances said it received bids worth a total of €1.425 billion – almost three times the amount on offer.

The bills have a maturity of six months and were sold at a yield of -0.535%.

Today’s auction was the second fund-raising by the NTMA so far this year, and the first auction of Treasury Bills in 2020.

It plans a further bill sale in mid-March, shortly after a scheduled bond auction.

In January the NTMA said it planned to raise between €10 billion and €14 billion this year – a lower range than the one set out for 2019.

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NTMA to hold one bond auction in Q1 after early syndicated sale

The National Treasury Management Agency said it will hold one bond auction in the first quarter of the year on March 12.

The NTMA covered around a third of its funding target for 2020 with a syndicated sale yesterday.

It kicked off its funding drive by raising €4 billion via a new 15-year bond sale after being swamped with bids for its debut issue for the second successive year. 

The debt agency plans to raise between €10-14 billion this year. 

The NTMA also plans to hold two Treasury Bill auctions in the first three months of the year – on February 20 and March 19.

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NTMA plans to launch new 2050 syndicated bond

NTMA plans to launch new 2050 syndicated bond

The National Treasury Management Agency said today it plans to issue a new 2050 bond via a syndicated sale in the near future

Market sources say the auction – which is subject to market conditions – is expected to raise about €3 billion.

The NTMA has already raised over €5.5 billion of a planned €14-18 billion of long-term debt issuance this year.

The bond “is expected to be launched and priced in the near future subject to market conditions”, the agency said in a statement, indicating a sale was likely this week.

The NTMA also said it was cancelling a bond auction that had been scheduled for Thursday.

It is unusual for the agency to cancel an auction in favour of a syndicated deal but the move comes after Cyprus’s recent first 30-year bond sale was overloaded with orders.

The NTMA usually sells only around €1 billion of bonds per auction, more often than not a mix of short and long-dated paper.

High demand for such long maturities – with Ireland an active seller in recent years – shows just how much Europe’s bond market is adjusting to expectations of persistently low interest rates and central bank stimulus.

Barclays, BNP Paribas, Cantor Fitzgerald Ireland, Danske Bank, Deutsche Bank and Goldman Sachs have been appointed as joint lead managers for the transaction, the debt agency said.

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