Ireland to make limited return to bond market with auction of three-month bonds

Tuesday 03 July 2012 23.09
The NTMA intends to auction €500m of three-month bonds
The NTMA intends to auction €500m of three-month bonds

The National Treasury Management Agency is to begin its return to the financial markets on Thursday, with an auction of three-month treasury bills.

The NTMA aims to raise €500m in what will be its first such auction since September 2010.

NTMA chief executive John Corrigan said it was "an important first step in our phased re-entry into capital markets".

A full return to markets would mean borrowing larger amounts over longer periods, and is unlikely to happen until next year.

Greece and Portugal, other countries in receipt of bailout funds, have already borrowed money over three months.

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