Century Bond

March 30th, 2016 10:48 am | by John Jansen |

Anyone buying this bond should submit their urine for analysis.

Via the Irish Times:

The State has issued debt with a 100-year maturity for the first time, raising €100 million in a bond which will be repaid in 2116.

The sale by the National Treasury Management Agency comes in a week in which Ireland commemorates the centenary of the 1916 Rising. The bond, which carries an annual yield of 2.35 per cent, will be repaid during the bicentenary of the Rising.

“This ultra-long maturity is a significant first for Ireland and represents a big vote of confidence in Ireland as a sovereign issuer,” said Frank O’Connor, NTMA director of funding and debt management.

The note was sold by private placement via two of the NTMA’s primary dealers, Goldman Sachs International Bank and Nomura International. Prior to this transaction, Ireland’s longest-dated debt was a a 30-year bond.

Be Sociable, Share!
  1. 2 Responses to “Century Bond”

  2. By JJ on Apr 14, 2016 | Reply

    Not only would I like to short this debt …

    . . . .I would like to short the person who buys it

  1. 1 Trackback(s)

  2. Mar 30, 2016: 2:00PM Water Cooler 3/30/2016 | naked capitalism

Post a Comment