The National Treasury Management Agency has sold €500m worth of Treasury Bills.

The manager of the State's finances said it received bids worth a total of €1.425 billion - almost three times the amount on offer.

The bills have a maturity of six months and were sold at a yield of -0.535%.

Today's auction was the second fund-raising by the NTMA so far this year, and the first auction of Treasury Bills in 2020.

It plans a further bill sale in mid-March, shortly after a scheduled bond auction.

In January the NTMA said it planned to raise between €10 billion and €14 billion this year - a lower range than the one set out for 2019.