Ireland borrows €2bn while bond markets start to gang up on Britain

Ireland borrowed €2bn through a so-called syndicated tap of an existing 2043 Irish Sovereign Green Bond – meaning a group of investors provided additional funding under terms of a bond due to be repaid in 2043. Green bonds are used to raise money that can be spent and invested on environmentally compliant projects. The money was borrowed at a yield, in effect the interest rate, of 3.642pc. The latest fundraising deal means the National Treasury Management Agency (NTMA), which borrows on behalf of the State, has secured 70pc of this year’s borrowing target. The NTMA said there was strong demand…