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NTMA opens syndicated sale of 15-year bond

The National Treasury Management Agency has today started the syndicated sale of a new 2035 bond that a market source said could raise around €3 billion. 

The NTMA has kicked off its funding drive with a syndicated sale every year since 2013.

It could cover around a quarter of its funding needs for this year after it announced last month that it would borrow between €10-14 billion in 2020.

Davy, Deutsche Bank, JP Morgan, Morgan Stanley, NatWest Markets and Nomura were mandated as joint lead managers for the 15-year bond sale.

Fellow euro zone issuers Slovenia and Portugal have also launched or mandated banks this week to sell new government bonds.

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