NTMA set to auction €500m on Thursday

The National Treasury Management Agency (NTMA) is to auction €500 million of fifteen-year bonds on Thursday.

The auction will be conducted between 8am and 10am on the Bloomberg Auction System and is confined to recognised primary dealers.

A non-competitive auction for 15 per cent of the amount sold in the competitive auction will immediately follow.

The NTMA has sold €11.75 billion in long-term debt since the start of 2014, and is also taking steps to ease the burden of an €8 billion debt that matures in April 2016.

The agency is advancing plans to step up the sale of new debt this year, with up to €15 billion in long-term bond sales.