Ireland’s National Treasury Management Agency (NTMA) said it has mandated BNP Paribas, Cantor Fitzgerald Ireland, Citi, Danske Bank, J.P. Morgan and Morgan Stanley to sell 10-year bonds “in the near future.”

Market sources said they expect the NTMA to sell about €3 billion of 10-year bonds to start this year’s sale of debt for the Irish Government.

The NTMA said in December it plans to sell €10 billion to €14 billion of bonds over the course of 2022.

This represents a reduction on the €18.5 billion issued in 2021.

The NTMA said in a statement: “Ireland, acting through the National Treasury Management Agency, rated Moody’s A2 (Positive), Standard and Poor’s AA- (Stable), Fitch Ratings A+ (Stable), has mandated BNP Paribas, Cantor Fitzgerald Ireland, Citi, Danske Bank, J.P. Morgan and Morgan Stanley as joint lead managers for a forthcoming EUR 10-year RegS benchmark transaction, maturing 18 October 2032 …

“The transaction is expected to be launched and priced in the near future subject to market conditions.”