NTMA sells €750m in treasury bills in oversubscribed auction

Bids received in auction amounted to €1.6bn, 2.1 times the amount on offer

The NTMA earlier this year set a funding target of €20 billion to €24 billion to help deal with the cost to the exchequer of the coronavirus pandemic

The NTMA earlier this year set a funding target of €20 billion to €24 billion to help deal with the cost to the exchequer of the coronavirus pandemic

 

The National Treasury Management Agency (NTMA) has sold €750 million in treasury bills at auction.

Total bids received in the auction amounted to €1.6 billion, which was 2.1 times the amount on offer.

The treasury bills, which have a maturity of six months, were sold at a yield of 0.58 per cent.

The agency sold an additional €1.5 billion of bonds, mainly at negative yields, last week, bringing to €22.75 billion the amount the NTMA has raised on the long-term debt markets prior to the latest auction.

In May it set a funding target of €20 billion to €24 billion to help deal with the cost to the exchequer of the coronavirus pandemic.