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Return of the Bond
Ireland to raise €500 million on bond markets
The auction will be Ireland’s fourth since the bailout programme was initiated in November 2010.
THE NATIONAL TREASURY Management Agency has announced that Ireland will return to the bond markets again this week to issue another round of short-term debt on Thursday.
The agency responsible for managing Ireland’s national debt said there will be €500 million in short-term bills on offer, a similar set-up to the successful sale undertaken last month.
The Treasury Bills have a three-month maturity and the Government will be hoping to see a further fall in the cost of borrowing. When last issued on 13 September, the interest rate on the short-term bonds was 0.70 per cent. This was a significant decrease on the yield of 1.8 per cent seen during an auction in July, the first since the EU/IMF intervention.
A separate round of bond activity, where Ireland raised €4.19 billion in longer-term loans followed later in July.
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