Irish state’s cost of borrowing triples following interest rate surge

The yields on offer to investors from the NTMA are the highest in almost a decade

The NTMA has raised €1.25 billion for the state via a bond sale. Picture: Getty

The Irish state’s cost of borrowing has soared following the recent hikes in interest rates.

The National Treasury Management Agency (NTMA), the agency which handles the state’s assets, today announced it has raised €1.25 billion via a bond sale.

Some €450 million of bonds will mature in 2032, while €800 million will mature in 2037. The yields applied to the bonds were 3.1 per cent and 3.4 per cent respectively.

Interest from investors was strong, ...