NTMA to hold three-month T-Bill auction on Thursday

Tuesday 16 July 2013 10.00
The NTMA said it would follow up this week's auction with another in September
The NTMA said it would follow up this week's auction with another in September

The National Treasury Management Agency is to auction €500 million worth of three-month Treasury Bills on Thursday.

The NTMA has already held six auctions of similar bills so far this year, with the bills selling at an annualised rate of 0.2% last month.

At the time the agency said it received total bids worth €1.46 billion – 2.9 times the amount on offer.

An auction in May achieved a yield of 0.129% - the lowest since the NTMA resumed auctions in July 2012, following the 2010 bailout – and received bids worth €1.822 billion or 3.6 times the amount on offer.

The agency said that - subject to market conditions - Thursday’s auction will be followed by another in September.