The National Treasury Management Agency says it intended to issue between €12bn and €15bn worth of long-term bonds next year.

The agency, which has already raised €8bn in funding for 2015, said it would issue a statement at the start of each quarter next year to outline its funding plans for the period.

It said it would also continue to regularly issue Treasury Bills, and planned to hold at least one syndicated bond deal in 2015.

In addition to these auctions, the NTMA said it hoped to swap some of its 4.6% Treasury Bond - which is due to mature in April 2016 - for longer-dated bonds, subject to market conditions.

Separately, the NTMA has announced the cancellation of €500m worth of bonds relating to the Irish Bank Resolution Corporation.

The Irish Floating Rate Treasury Bond was issued as part of an arrangement that saw the Anglo Irish Bank promissory note replaced with new debt. 

Its issuance was part of the process that has ultimately led to IBRC’s liquidation.

Today the NTMA purchased €500m worth of the bond - which was due to mature in mid-2038 - from the Central Bank.

It said the cancellation of this amount will leave €1.5bn worth of the bond outstanding.