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Ireland to raise up to 1.25 billion euros in dual bond auction
March 6, 2017 / 10:40 AM / 9 months ago

Ireland to raise up to 1.25 billion euros in dual bond auction

DUBLIN (Reuters) - Ireland will seek to raise up to 1.25 billion euros on Thursday in its second dual bond auction of the year to further replenish the scarce pool of Irish debt eligible for the European Central Bank’s bond-buying programme.

Ireland will auction between 1 and 1.25 billion euros of nine- and 28-year bonds, the country’s debt agency said on Monday. It has already raised 5.25 billion euros of its planned 9 to 13 billion euros issuance of long-term debt this year.

The ECB has had to cut its monthly purchases of Irish bonds after nearing a self-imposed limit of holding 33 percent of any country’s debt, a pressure Ireland can help alleviate by issuing new eligible debt.

Reporting by Padraic Halpin; Editing by Toby Chopra

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