The National Treasury Management Agency is to enter the market to raise money in a seven year bond auction to take place this week. 

Market sources have indicated the auction could take place as early as tomorrow. 

It is understood the NTMA may seek to raise between €3-4 billion in a bond which will mature in May 2027. 

The NTMA faces some €16 billion in redemptions this year. 

It is not yet known how much it may have to raise in addition to that to fund an expected deficit in public spending due to the impact of the coronavirus.  

It said today that it has mandated BNP Paribas, Bank of America Securities, Cantor Fitzgerald Ireland, Danske Bank, Goldman Sachs International Bank and JP Morgan as joint lead managers for the sale.