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Dublin: 19 °C Thursday 24 July, 2014

Ireland to raise €500 million on bond markets

The auction will be Ireland’s fourth since the bailout programme was initiated in November 2010.

Image: Paulo Duarte/AP/Press Association Images

THE NATIONAL TREASURY Management Agency has announced that Ireland will return to the bond markets again this week to issue another round of short-term debt on Thursday.

The agency responsible for managing Ireland’s national debt said there will be €500 million in short-term bills on offer, a similar set-up to the successful sale undertaken last month.

The Treasury Bills have a three-month maturity and the Government will be hoping to see a further fall in the cost of borrowing. When last issued on 13 September, the interest rate on the short-term bonds was 0.70 per cent. This was a significant decrease on the yield of 1.8 per cent seen during an auction in July, the first since the EU/IMF intervention.

A separate round of bond activity, where Ireland raised €4.19 billion in longer-term loans followed later in July.

NTMA chief: It’s looking good for ‘sustainable’ re-entry to markets

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