The National Treasury Management Agency has sold €500m of the benchmark 10-year Irish Government bond at a yield, or interest rate, of 2.315%. 

The NTMA said that total bids received amounted to €1.370 billion - 2.7 times the amount on offer. 

After today's auction, the NTMA has raised €7 billion in the bond markets so far this year which is more than 87% of its funding target of €8 billion for the full year.

The agency said that today's auction completes the bond auction schedule for the third quarter of this year.