Monday 20 October 2014

Government to return to markets for €500m funding

Published 16/04/2013 | 14:28

John Corrigan, Chief Executive of the National Treasury Management Agency (NTMA)
John Corrigan, Chief Executive of the National Treasury Management Agency (NTMA)

THE government’s debt management agency will return to the market on Thursday in the latest attempt to raise short term funding.

The National Treasury Management Agency (NTMA) said it will offer €500m worth of “T-Bills” with a three month maturity date on Thursday. The products will be almost identical in character to the bills the NTMA auctioned off last month.

The agency said the auction, which will be the fourth this year, will be followed by two more before the end of June. The deal is reliant on benign market conditions.

If the auction is successful, it will be the latest boost to the government as it seeks to return to the international markets ahead of the end of its bailout this year.

The NTMA has held numerous short term auctions, and last month sold off its first benchmark 10 year bond since before the bailout.

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