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NTMA Funding Statement for 2019

The National Treasury Management Agency (NTMA) plans to issue €14 billion to €18 billion of bonds over the course of 2019.

The NTMA will issue a statement at the beginning of each quarter outlining the bond auction plans for that quarter. It also intends to hold at least one syndicated bond deal during the year.

The NTMA will continue to issue Treasury Bills during 2019 and further details will be contained in the quarterly announcements.

NTMA Director of Funding and Debt Management Frank O’Connor said:

We expect to start 2019 with strong cash balances in excess of €13 billion and are well placed to fund maturities totalling €15 billion that will arise during the year.

Our expected funding of €14-18 billion in 2019 continues our strategy of prefunding to meet future redemptions, with 2020 marking the last year in which sizeable repayments are falling due. Ireland’s average maturity, which we have increased to close to 10 years, is one of the longest in Europe.

There may be opportunities for further diversification of our issuance in 2019, building on the success of our inaugural Irish Sovereign Green Bond (ISGB) which issued in 2018.”