At a Glance
The NTMA is a State body which provides asset and liability management services to Government. Its purpose is to manage public assets and liabilities commercially and prudently. The NTMA operates across five separate business units: Funding and Debt Management, the Ireland Strategic Investment Fund, the National Development Finance Agency, NewERA and the State Claims Agency.
Funding
and
Debt Management
The NTMA is responsible for borrowing on behalf of the Government and managing the National Debt in order to ensure adequate liquidity for the Exchequer and to optimise debt service costs over the medium term.
Bond issuance
€8.25bn
of benchmark bonds issued at a weighted average yield of 0.82% and a weighted average maturity of 10 years
Ireland’s first 100-year bond
€100m
sold by private placement at a yield of 2.35%
Falling debt service costs
€6.7bn
interest paid on National Debt compared with €7.0bn in 2015
READ MOREIreland
Strategic
Investment
Fund
The NTMA controls and manages the Ireland Strategic Investment Fund (ISIF) which has a statutory mandate to invest on a commercial basis in a manner designed to support economic activity and employment in the State.
Investing in Ireland
€522m
committed during 2016, bringing the total ISIF commitment to €2.6bn
Co-investment
€7.5bn
the total committed to Ireland including co-investment by private sector partners – a multiple of 2.8 times the ISIF commitment
Investment return and economic impact
2.9%
investment return in 2016 with ISIF capital supporting 140 Irish companies/projects and, directly and indirectly, 21,900 jobs
READ MORENational
Development
Finance
Agency
Acting as the National Development Finance Agency (NDFA), the NTMA provides financial advisory, procurement and project delivery services to State authorities on public infrastructure projects.
PPP programme
€1bn
the estimated total capital value of a range of education, health, justice and housing PPP projects being delivered by the NDFA
Ireland’s first healthcare PPP
14
new primary care centres being developed across the country
Refinancing
€23m
in savings to the State from the successful refinancing of the N17/N18 Gort to Tuam PPP scheme
READ MORENewERA
Acting as NewERA, the NTMA provides a dedicated centre of corporate finance expertise to Government, in particular in relation to shareholder oversight of major commercial State bodies.
Dividends
€427m
in combined dividends were received by the Exchequer from bodies within NewERA’s remit in 2015/16
Advice - financing
€3.9bn
the value of financing-related requests from bodies within NewERA’s remit on which it provided financial analysis and recommendations in 2016
Advice - capital expenditure
€3.1bn
the value of capital expenditure budgets and requests from bodies within NewERA’s remit on which it provided financial analysis and recommendations in 2016
READ MOREState Claims Agency
Acting as the State Claims Agency (SCA), the NTMA manages claims brought against 139 State authorities, including the State itself. It also provides risk management services, advising and assisting State authorities in minimising their claims exposures.
Estimated outstanding liability
€2.2bn
from almost 9,000 active claims being managed at end-2016
Maternity services - a risk management priority
65%
(€1.09bn) of the total outstanding clinical claims liability is in respect of maternity services
Reducing legal costs
€27m
the amount for which bills of costs received from third parties were settled in 2016 – a reduction of 45% on the €49m claimed
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