bonds
Hmm, I didn't know there was a spate of bonds issued.
But one reason is to lock-in debt at the very low bonds yields at the moment. Example, 10-year bonds are yielding 3.5%-4%. That means the Irish govt can borrow at these rates.
At end-2004 yield were as follows:
2009 bond = 2.95%
2013 bond = 3.5%
2016 bond = 3.75%
2020 bond = 3.99%
This is why I am sceptical about PPPs, sure the govt can borrow for infrastructure over 20 years at 4%, lower than any private firm.