NTMA half-way to 2017 debt target
The State borrowed €1.25bn on the markets on Thursday through two bond deals - the first such dual-track auction since before the bailout.
The National Treasury Management Agency (NTMA) raised €600m of bonds due to be repaid in 2022, and €650m of bonds falling due in 2026.
The yield, in effect the interest rate, on the bonds due in 2022 is 0.088pc, while investors charged 1.026pc a year for the 2026 bonds.
The deals bring NTMA halfway to its fund-raising target for the whole year.
The agency has said it plans to borrow between €9bn and €13bn on the markets in 2017. In January, it borrowed €4bn in a rare 20-year bond deal.
The State's cost of borrowing has risen in recent months. The latest yields commanded by bondholders are around twice the level seen last October. However, compared to historic norms, borrowing remains cheap for the State.