The National Treasury Management Agency has mandated a number of its primary bond dealers to issue a new seven year syndicated bond "in the near future".

The NTMA, which is fully pre-funded for the rest of 2015, plans to issue between €12-15 billion of long-term bonds this year and said last month it would include at least one syndicated issue. 

Markets sources say that the NTMA expect to raise €3-4 billion in the auction, which is expected as soon as tomorrow. The yield is expected to be less than 1%.

Davy, HSBC, JP Morgan, Nomura and Royal Bank of Scotland were mandated as joint lead managers for the issue, the agency said today.