State buys and cancels €500m in treasury bonds

State buys and cancels €500m in treasury bonds
NTMA bought 500m in bonds Pic: RollingNews.ie

Bonds were formed from restructuring of IBRC promissory notes

The National Treasury Management Agency today announced the cancellation of €500 million of treasury bonds originally issued in connection with the bailout of Anglo Irish Bank. They were due to mature in 2041.

In 2013, as part of the Irish Bank Resolution Corporation Act, the Irish Central Bank received around €25 million in government bonds as a result of restructuring of the promissory notes that has been used by IBRC as collateral for emergency funding during the crisis.

The...

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