The National Treasury Management Agency (NTMA) has today raised €3.5 billion through the syndicated sale of a new 20-year Irish Sovereign Green Bond (ISGB) maturing in October 2043. The funds were raised at a yield of 3.106%.
This is Ireland's second sovereign green bond, following the inaugural issue in October 2018.
There was strong demand for today's transaction. The total order book was in excess of €35 billion and included just under 300 individual accounts.
Dave McEvoy, NTMA Director of Funding and Debt Management, said:
“Today’s new Irish Sovereign Green Bond (ISGB) builds on the success of the first ISGB we issued in 2018.
Having raised €3.5 billion in today’s transaction, ISGBs now account for over 7% of Ireland’s total benchmark bonds. These have been very effective in diversifying our investor base.
Today's transaction, which also provides a new 20-year benchmark bond, shows we continue to see strong investor demand for Irish sovereign debt.
With relatively low levels of maturing debt this year, an anticipated Exchequer surplus, and strong cash balances supported by our pre-funding strategy, we have flexibility in managing our issuance over the remainder of 2023.”
