Vol. 473 No. 6
99 Mr. O'Dea asked the Minister for Finance if he will postpone the redemption of Governmentissued 13 per cent finance stock 1997/02 in view of the fact that a number of holders of this stock will be disadvantaged financially if redemption occurs in the immediate future. [2246/97]
The management of the national debt is a matter for the National Treasury Management Agency (NTMA) which was specifically established for this purpose under the National Treasury Management Act, 1990.
The NTMA announced to the market on 13 December 1996 that, in accordance with the terms of the prospectus of the 13 per cent Finance Stock 1997-2002, dated 21 April 1977, it had decided to redeem the total issued stock on 1 April 1997 and the stock is currently trading on this basis. The purpose of redemption at this time is to minimise debt service costs.
