Ireland's NTMA raises €2B via 2043 green bond tap with €35B order book
What's the deal? Ireland's National Treasury Management Agency (NTMA) raised €2 billion on Wednesday through a syndicated tap of its 2043 Irish Sovereign Green Bond, drawing more than €35 billion in orders from 235 individual accounts — a sign of robust demand for Irish government debt.
The funds were raised at a yield of 3.642%.
Why now? The deal brings the NTMA close to its annual funding target. The agency has now raised almost 70% of the midpoint of its €10 billion to €14 billion bond funding range for 2025, according to NTMA director of funding and debt management Dave McEvoy.
"Investor appetite for Irish Government bonds remains strong," McEvoy said.
The signal: The order book — more than 17 times the amount raised — underscores continued appetite for sovereign green bonds among institutional investors. Banks took the largest share of allocations at 40%, followed by insurance and pension companies at 22%, fund managers at 18%, and central banks and official institutions at 17%.
Geographically, UK investors led with 17% of allocations, followed by Germany, Austria, and Switzerland at 15%. Benelux investors took 14%, Italian investors 12%, and domestic Irish buyers 8%.
The strong demand reflects broader momentum behind green sovereign issuance as governments lean on sustainability-labelled debt to fund climate-related spending while tapping into a deep pool of ESG-focused capital.
Read more: econostream-media.com
