Ireland’s NTMA Seeks Positive ‘Mood Music’ Before Market Return

Jan. 13 (Bloomberg) -- Irish National Treasury Management Agency Chief Executive Officer John Corrigan said the “mood music” surrounding the euro region debt crisis “will have to gt a litte more positive,” as the nation seeks a return to debt markets.

An Irish return to markets “well in advance” of a 11.8 billion-euro bond 2014 bond redemption is a critical issue, Corrigan told reporters in Dublin. He said a syndicated sale is the most likely method for long-term re-entry. “Markets are very fickle, so we shouldn’t be just conditioned by where markets are at the moment,” he said, adding Ireland has drawn interest from U.S. investors, who believe the country’s debt may be the best way to play the euro region.

He said though potential investors in Irish debt see the nation as part of the euro region in the future, some are concerned that other countries may exit. He also said talks on cutting the debt burden of Irish banking bailout are active. The government is seeking alternatives to the promissory notes used to bailout the former Anglo Irish Bank Corp. Link to Company News:{2539Z GR <Equity> CN <GO>} Link to Company News:{ALBK ID <Equity> CN <GO>} Link to Company News:{ANGL LN <Equity> CN <GO>}

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net