DUBLIN- Ireland will seek to raise around 4 billion euros from a new 10-year bond issue as soon as Tuesday, a market source said after the country's debt agency cancelled a regular bond auction in favour of a syndicated sale.
The National Treasury Management Agency said on Monday that it would launch the new benchmark bond via a syndicate of banks in the near future subject to market conditions, language it regularly uses when kicking off a syndicated sale the next day.
"This decision is based on current market conditions and investor feedback, which suggested that demand is likely to be greater than can be typically accommodated by an auction," the NTMA's head of funding Frank O'Connor said in a statement.
(Reporting by Padraic Halpin; Editing by Toby Chopra) ((padraic.halpin@thomsonreuters.com; +353 1 500 1504; Reuters Messaging: padraic.halpin.thomsonreuters.com@reuters.net))
