The ESB pension fund is believed to have been by far the biggest purchaser of the new sovereign annuities, following the release of €1 billion of special amortising government bonds last week.
The new annuities help defined benefit pension funds - such as the ESB - to close big deficits, because they cost less to fund pension retirements than traditional annuities.
The new bonds are sold by the National Treasury Management Agency (NTMA) to insurance...
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