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Ireland to issue first ever 30-year bond

Xinhua, February 3, 2015 Adjust font size:

Ireland said on Monday it will issue a 30-year bond in the coming days.

The auction will be the first time the country has issued a standard bond with such a long maturity, according to the National Treasury Management Agency (NTMA).

In Ireland, the NTMA is responsible for borrowing on behalf of the government and managing the national debt. In its 2015 funding plan, the NTMA hopes to raise 12 to 15 billion euros through bond issuance.

The NTMA said it had mandated Barclays, Citi, Credit Agricole CIB, Danske Bank, Davy and Royal Bank of Scotland as joint lead managers for the transaction, maturing on Feb. 18, 2045.

The syndicated transaction is expected to be launched and priced in the near future subject to market conditions, it said.

Last year, Ireland's government bond rating was upgraded to Moody's Baa1 (Stable), Standard and Poor's A (Stable), Fitch Ratings A- (Stable). Enditem