The National Treasury Management Agency has today completed an auction of €1.5 billion of benchmark Irish Government bonds.
The NTMA sold three different bonds at today's auction.
These are bonds that are already in circulation.
€500m was raised on the 0.2% Treasury Bond which matures in 2027 at a negative rate of -0.257%. This bond was first issued in April of this year when €6 billion was raised at +0.242%.
This means that in less than three months, the NTMA has gone from paying investors to being paid by investors on this particular bond.
However, the amounts raised today are smaller.
The same thing has happened with the 0.2% Treasury Bond 2030. This first raised €6 billion when it was issued last month at a positive yield of 0.285%.
An additional €700m has now been raised on this bond at a negative yield of -0.025%.
The NTMA also today sold €300m of a bond which matures in 2050 at a yield of 0.602%
RTÉ News has also confirmed that the NTMA raised €200m last Friday in a private placement on a 59 year bond with a yield of 0.81%. Bonds with maturities of this length are rare.
The NTMA has raised about €20 billion from bond issuances so far this year.
In April, the NTMA announced a revised bond funding range of €20 billion to €24 billion for the full year, to meet the extra borrowing requirements of Government measures during the Covid-19 pandemic.
That replaced the original bond funding range, announced in December, of €10 billion to €14 billion.