Ireland slashes funding target for next year
Ireland’s National Treasury Management Agency (NTMA) on Monday announced a reduced borrowing programme for 2020.
Ireland plans to raise €10bn-€14bn of bonds next year, compared to €14bn-€18bn in 2019. It intends to hold at least one syndication in 2020.
The reduction in borrowing is due to the sovereign’s strategy of pre-funding ahead of major bond redemptions.“The NTMA’s pre-funding strategy has given us ...