Sustainable growth in the Irish bond market. Green Eurobonds more than doubled
Ireland's outstanding domestic government debt in the first quarter of 2021 reached 230.5 billion euros, an increase of 12.6 billion euros since the beginning of the year. For comparison, for the same period in 2020, the domestic government debt of Ireland increased by 9.7 billion euros from EUR 204.1 billion to EUR 213.8 billion.
The growth was mainly due to the issuance of short-term (€ 2.8 billion) and long-term (€ 6.8 billion) bonds, as well as an increase in long-term loan commitments due to an inflow of € 2.1 billion under the support program in emergencies to reduce the risk of rising unemployment from the European Commission (SURE).
In addition to the government security market, there is also an increase in the volume of issues of the corporate sector. Thus, the total volume of corporate issues placed from January to August 2021 amounted to $ 32.73 billion, while for the same period of the previous year the amount was $ 10.98 billion.
Both the corporate and government bond markets in Ireland are not very diverse - most securities are plain vanilla bonds with a fixed coupon in dollars, euros or pounds. From January to August this year, the volume of green bonds increased from 0.75 billion euros to 2.0 billion euros, compared to the same period in 2020.
The Cbonds database for the Irish bond market mainly includes issues listed on the Euronext Dublin exchange, which joined the Euronext group in 2018. For corporate bonds, the database also contains prospectuses and emission programs for securities in circulation.
The dynamics of new releases can be found in the corresponding section of the Cbonds website.
Full nameNational Treasury Management Agency (NTMA) of Ireland