NTMA sells €500m of treasury bills at auction

The National Treasury Management Agency has successfully auctioned €500 million of treasury bills with a six-month maturity.

The agency said all bids were filled at the cut-off of zero per cent.

Total bids received amounted to €1.745 billion which was 3.49 times the amount on offer. The bills were sold at an annualised yield of 0.00 per cent.

The auction was confined to recogised primary dealers.

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.

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.