Ireland seeking funds from new 20-year bond - source

The debt agency said the transaction would be launched in the near future

  

DUBLIN- Ireland will seek to raise around 2 to 3 billion euros from a new 20-year bond, a market source said on Wednesday, after the country's debt agency hired a groups of banks and brokers for its second syndicated sale of the year.

Ireland has raised 7 billion euros so far this year, mainly through a syndicated 10-year deal in January that investors piled into. It plans to borrow 16 billion to 20 billion euros in 2021 to fund COVID-19 related expenditure. 

The debt agency said the transaction would be launched in the near future, subject to market conditions, language it typically uses when kicking off a syndicated sale the next day. It mandated Barclays, BNP Paribas, Cantor Fitzgerald Ireland, Danske Bank, J.P. Morgan and Nomura as joint lead managers.

(Reporting by Padraic Halpin; Editing by Jon Boyle) ((padraic.halpin@thomsonreuters.com; +353 1 500 1504; Reuters Messaging: padraic.halpin.thomsonreuters.com@reuters.net))

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