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NTMA rakes in €500m at auction

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NTMA Results and Business Review 2012...BUSINESS / 9.1.13

The National Treasury Management Agency (NTMA) today reported results for 2012 and provided a review of activities across the range of its business functions.   Speaking today, NTMA Chief Executive John Corrigan (pictured) said that Ireland had made considerable progress in its phased return to the markets over the past year and with the success of yesterdays EUR2.5billion syndicated bond sale, had eliminated the 'funding cliff' presented by a EUR11.9billion bond repayment due in mid January 2014.  The NTMA intends to step up its re-engagement with the market during 2013 so that Ireland is positioned to successfully exit the EU IMF programme.  Its working plan is to raise EUR10billion, subject to market conditions, of which one quarter has been achieved with yesterdays bond sale.  Photo Fennells, no fee for reproduction...Business

NTMA Results and Business Review 2012...BUSINESS / 9.1.13 The National Treasury Management Agency (NTMA) today reported results for 2012 and provided a review of activities across the range of its business functions. Speaking today, NTMA Chief Executive John Corrigan (pictured) said that Ireland had made considerable progress in its phased return to the markets over the past year and with the success of yesterdays EUR2.5billion syndicated bond sale, had eliminated the 'funding cliff' presented by a EUR11.9billion bond repayment due in mid January 2014. The NTMA intends to step up its re-engagement with the market during 2013 so that Ireland is positioned to successfully exit the EU IMF programme. Its working plan is to raise EUR10billion, subject to market conditions, of which one quarter has been achieved with yesterdays bond sale. Photo Fennells, no fee for reproduction...Business

NTMA Results and Business Review 2012...BUSINESS / 9.1.13 The National Treasury Management Agency (NTMA) today reported results for 2012 and provided a review of activities across the range of its business functions. Speaking today, NTMA Chief Executive John Corrigan (pictured) said that Ireland had made considerable progress in its phased return to the markets over the past year and with the success of yesterdays EUR2.5billion syndicated bond sale, had eliminated the 'funding cliff' presented by a EUR11.9billion bond repayment due in mid January 2014. The NTMA intends to step up its re-engagement with the market during 2013 so that Ireland is positioned to successfully exit the EU IMF programme. Its working plan is to raise EUR10billion, subject to market conditions, of which one quarter has been achieved with yesterdays bond sale. Photo Fennells, no fee for reproduction...Business

THE National Treasury Management Agency sold the target amount of bills for the lowest level since the 2010 bailout.

The NTMA, headed by John Corrigan completed an auction of Treasury Bills, selling the target amount of €500m.

Total bids received amounted to €1.822bn – 3.6 times the amount on offer. The three-month bills were sold at an annualised interest rate, or yield, of 0.129pc – the lowest level since the agency resumed auctions last July for the first time since the 2010 bailout. That compares to a yield of 0.195pc at the last such auction in April.

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