The Government has announced its first bond deal of the year with sources saying the plan could raise up to €2bn on the markets.
The National Treasury Management Agency (NTMA) said it will seek to borrow the cash in a technique called a “syndicated tap.”
This means increasing the size of a bond due to be repaid in 2017 - it was issued with a 5.5pc interest rate.
Most bond deals are issued in an auction, where the amount to be raised is decided in advance and the price is determined by investor demand on the day.
A "tap" means borrowing at a pre-set price, but any institutional investor can offer to lend and the final amount will not be known until the deal closes.
Barclays, Danske, Davy, RBS and Societe Generale have been hired to sell the debt.