NTMA to raise €500m

THE National Treasury Management Agency (NTMA) plans to raise €500m tomorrow, it has said.

The development comes as Bank of Ireland turned to the markets to raise €1bn -- without using the Government bank guarantee -- at an interest rate of 3.2pc.

It is the first time it has done so in the past three years.

The lender had initially sounded out interest from investors to borrowing €500m. Investors offered to lend the bank €2.5bn.

It is another sign of improving sentiment towards Ireland as it plans its return to the markets.