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Bills bid to raise e500m

IRELAND will take another step towards re-entry into the credit markets with plans to raise €500m in short-term money.

An auction of three-month T-bills will take place tomorrow and close at 4pm.

Last month, the NTMA, which manages the country's debt, sold €500m of the bills at a yield of 0.7pc. Pictured is John Corrigan CEO of the NTMA.

Yields on nine-year money remain below 5pc -- at an EU summit on June 29 European leaders agreed to examine ways to restructure Ireland €64bn in bank debt.

The agreement was made in a bid to improve the sustainability of the EU/IMF/ECB bailout loan programme.


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