Monday 23 October 2017

NTMA to raise €500m this week

Donal O'Donovan

Donal O'Donovan

The NTMA will hold an auction of €500m of short term government debt, known as treasury bills, on Thursday.

The deal is expected to run smoothly but as the first test of investor confidence since the markets have weakened over the past month the price that the Government pays to borrow will be closely watched.

In May the NTMA completed an auction of treasury bills, selling the full target amount of €500m at an annualised interest rate of 0.12pc.

Auctions of the short term bonds have become an almost monthly fixture on the financial calendar since the “bills” programme was reactivated last summer for the first time since the bailout.

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