The National Treasury Management Agency (NTMA) has cancelled €500 million of a 5 per cent treasury bond due to mature next April.

The NTMA acquired holdings of the short-dated bond in the secondary bond market, “as part of its normal operations”.

Following the cancellation, the total nominal outstanding for the bond will decline from €5.616bn to €5.116bn.Such cancellations occur as the maturity of a bond approaches. “This is routine housekeeping,” the NTMA said.