NTMA will hold second regular bond auction of 2014 next week

The National Treasury Management Agency (NTMA) will hold its second regular bond auction of 2014 next week.

The NTMA made a successful return to regular bond auctions last month, raising €1 billion from the sale of 10-year debt at record low yields.

Demand for Irish bonds has strengthened since ratings agency Moody’s upgraded the country’s debt to investment grade from junk in January.

The agency, which is already fully funded into next year, said it is aiming to raise €8 billion this year to complete pre-funding for 2015.

Almost 60 per cent of this has already been achieved from last month’s auction and a 10-year issuance in January.

The details of the April 10th auction will be announced on Monday next, the NTMA said in a statement.

It will hold another bond auction on May 8th and will also hold treasury bill auctions on May 15th and June 19th.

The NTMA said that as part of its normal operations, it had cancelled €750 million of a bond due to mature in February next year, leaving €2.88 billion outstanding of the bond which was issued in February 2012.