Noonan comments on Ireland’s Bond Issuance

“The NTMA’s syndicated issuance today of €2.5 billion of bonds maturing in 2017 is a very welcome and positive development. This auction builds on the successful issuances last year.

The level of demand for today’s auction with €7bn of orders for €2.5bn of issuance was particularly encouraging and was primarily from foreign investors.

This issuance has been facilitated by the international recognition of Ireland’s progress in returning our economy to growth and the commitment from the European Heads of State and Government to break the negative link between the sovereign and the banks. Today’s issuance reinforces the need to deliver on this commitment so as to ensure continued and assured market access.

These factors, in tandem with our strong programme implementation are having a very positive impact on financial markets’ perceptions of Ireland.”