Frank O'Connor, chief executive of the National Treasury Management Agency , says the average 10.7 year maturity on the Government's debt is one of the longest in Europe. Photograph: Dara Mac DonaillThe National Treasury Management Agency said its €30 billion of cash balances and relatively low levels of maturing debt in the coming years will help shield the State as market borrowing rates rise.
The NTMA has raised €5.75 billion in international bond markets so far this year, representing close to 60 per cent of the lower end of its €10 billion-€14 billion, full-year target fundraising range. The agency said it expects that its average interest rate will be little changed at about 1.5 per cent in 2022, compared to last year.
NTMA is preparing to repay about €9 billion of maturing debt next year, including €2 billion owed under the European element of its crisis-era international bailout.
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