The National Treasury Management Agency has sold €1 billion of a 30 year bond at a yield of 1.307% today.

The NTMA has now completed €9.5 billion of its target of €12-15 billion for 2016. 

Today's auction follows two syndicated deals including the sale of the country's first 30-year bond sale at record low interest rates last month. 

Part of the NTMA's recent money-raising efforts have been targeted at the early repayment of bailout loans from the International Monetary Fund.

The State has been replacing more than €18 billion of the €22.5 billion borrowed from the IMF as part of the bailout.

Speaking at the Euromoney Ireland Conference this morning, Minister for Finance Michael Noonan said the NTMA had been instructed  to complete this process.

"I have instructed the NTMA to proceed with the early repayment of the final €5.5 billion of IMF loans that we secured agreement to repay," Mr Noonan said.

"This early repayment of the majority of IMF loans will deliver savings of over €1.5 billion over the lifetime of the loans."

Portugal, which was the third euro zone country to seek a bailout after Ireland and Greece, has also followed Dublin in seeking to repay its IMF loans ahead of schedule.