The National Treasury Management Agency, the Government's debt management office, says it has raised €1 billion in an auction of Irish Government bonds today.
This is the first of a series of bond auctions as the NTMA seeks to raise money to help fund the State's budget deficit this year.
The NTMA said it sold €700m in a 4.5% ten-year bond at the lowest price of €89.46. The notes are due to mature on April 18, 2020.
The agency also said that it had sold €300m in a reopened 4% two year bond at the lowest price of €101.25. The notes are due to mature on November 11, 2011.
It said that the 2020 bond was sold at an average yield of 5.808% while the 2011 bond was sold at an average yield of 3.459%.
Germany sold its 10-years bonds at a rate of 3.75% last week.
Meanwhile, the NTMA is also hoping to raise around €1.5 billion through an auction of three Treasury Bills on Thursday. These are more short-term funding measures, which mature in months, rather than years.
