The National Treasury Management Agency (NTMA) has said it will auction two bonds next Tuesday as part of its regular funding programme.
The NTMA intends to auction a 4 per cent bond maturing in 2014 and a 5 per cent bond maturing in 2020.
The agency has already completed 90 per cent of its long-term borrowing programme of €20 billion for 2010, with €16.5 billion raised in the bond market in the first seven months of 2010. According to the national debt agency the exchequer is fully funded into the second quarter of 2011.
Last month, the NTMA borrowed €1.5 billion through auctions. It issued €750 million of the 4.6 per cent Treasury Bond 2016 and €750 million of the 5 per cent 2020 bond. The average yield on the benchmark 2020 bond was 5.537 per cent compared to the 4.688 per cent paid in April, the last time the bond was issued.