Irish Bond Auction a Success

82% of the bonds were purchased by overseas investors.

Ireland returned to the capital markets with a splash on Wednesday, launching its first benchmark bond since the country’s controversial bailout by the European Union.

The market’s embrace of the 5 billion euros 10-year syndicated bond offer is further confirmation that Ireland is on the road back to fiscal health, and outperforming Italy and Spain in terms of yield.

Investors scrambled to get in on the deal, putting in more than 12 billion euros in orders as Ireland takes another step toward regaining full access to the international capital markets.

In January, the country became the first EU bailout recipient to return to the markets, and Wednesday’s benchmark deal will help cement the Irish comeback.

via CNBC

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