NTMA cancels €500 million of the Irish Floating Rate Treasury Bond 2045
22 September 2017 – The National Treasury Management Agency (NTMA) announces the cancellation of €500 million of the Irish Floating Rate Treasury Bond due to mature on 18 June 2045.
The bonds, which were issued in connection with the Irish Bank Resolution Corporation Act 2013, were purchased today from the Central Bank of Ireland. Following this cancellation, the total nominal outstanding for this bond will reduce to €500 million.
Note to Editors:
- On 8 February 2013 the NTMA issued €25.034 billion nominal of Floating Rate Bonds, with original maturities ranging from 25 to 40 years, which were exchanged for the Promissory Notes held by the Central Bank of Ireland (CBI), on foot of the Irish Bank Resolution Corporation Liquidation.
- Following today’s transaction, €8.5 billion nominal of the Floating Rate Bonds have been bought from the CBI by the NTMA and subsequently cancelled. €3 billion of this has been bought and cancelled to date in 2017.
Table 1 – Floating Rate Bonds cancelled
| Year | Amount |
|---|---|
| € billion | |
| 2014 | 0.500 |
| 2015 | 2.000 |
| 2016 | 3.000 |
| 2017 | 3.000 |
| Total | 8.500 |
Table 2 – Floating Rate Bonds outstanding
| Bond | Issued Feb ‘13 | Outstanding Sept ‘17 |
|---|---|---|
| € billion | € billion | |
| Floating Rate Treasury Bond 2038 | 2.000 | – |
| Floating Rate Treasury Bond 2041 | 2.000 | – |
| Floating Rate Treasury Bond 2043 | 2.000 | – |
| Floating Rate Treasury Bond 2045 | 3.000 | 0.500 |
| Floating Rate Treasury Bond 2047 | 3.000 | 3.000 |
| Floating Rate Treasury Bond 2049 | 3.000 | 3.000 |
| Floating Rate Treasury Bond 2051 | 5.000 | 5.000 |
| Floating Rate Treasury Bond 2053 | 5.034 | 5.034 |
| Total | 25.034 | 16.534 |