Ireland on Wednesday issued a 100- year note for the first time, raising 100 million euros (113.4 million U.S. dollars) at a yield of 2.35 percent.
The National Treasury Management Agency (NTMA) said the 100-year note, maturing in 2116, was sold by private placement via two of the NTMA's primary dealers, Goldman Sachs International Bank and Nomura International PLC. "This ultra-long maturity is a significant first for Ireland and represents a big vote of confidence in Ireland as a sovereign issuer," said Frank O'Connor, NTMA director of funding and debt management.
In Ireland, the NTMA is responsible for borrowing on behalf of the government and managing the national debt. In its 2015 funding plan, it hopes to raise 12-15 billion euros through bond issuance. In Ireland, notes are issued under the country's Euro Medium Term Note Program dated on Oct. 6, 2015. The program provides a structure to create debt instruments to specific maturities which are sold on a placement basis rather than through the auction or syndication process.
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