Business Irish

Monday 22 September 2014

Government planning to borrow €500m in bond markets

Donal O’Donovan

Published 15/01/2013 | 11:48

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Finance Minister, Michael Noonan, and John Corrigan, Chief Executive, NTMA

The government has confirmed its plan to borrow €500m in three month "bills" at an auction on Thursday.

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It is the second time this year that the National Treasury Management Agency (NTMA) will borrow in the markets, after it secured €2.5bn in longer term bonds last week.

On Thursday the state will raise €500m in short term debt, known as “bills” in what is now a regular event.

Its the first deal of its kind since November.

The NTMA issued three month bills in September, October and November last year.

It needs to continue holding regular auctions to refinance that debt as it falls due.

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