The National Treasury Management Agency has today completed an auction of Irish Treasury Bills, selling the target amount of €750m. 

The NTMA said it received €2.835 billion in total bids, which was nearly four times the amount on offer. 

The Treasury Bills, which have a maturity of six months, were sold at a yield of -0.49%.

Last month, the NTMA revised its bond funding range to €20-24 billion for the full year, to meet the borrowing requirements of Government measures during the Covid-19 pandemic. 

This is up from its original bond funding range, announced in December, of €10-14 billion and follows an increase of €14 billion in the Government's Exchequer Borrowing Requirement announced in the Stability Programme Update.