The National Treasury Management Agency said it is now guiding that total bond funding activity this year will be at the upper end of its €20-24 billion funding range.
This comes after the announcement of the Government's €5 billion worth of stimulus measures yesterday.
The NTMA has raised €20 billion in long-term bond funding so far in 2020, at an average yield of 0.27% and an average maturity of more than 11 years.
In April, the NTMA revised its bond funding range to €20-24 billion for the full year to meet the increased borrowing requirements of Government measures during the Covid-19 pandemic.
That replaced its original bond funding range, announced in December, of €10-14 billion.
"Our guidance takes account of our levels of pre funding entering 2020, additional funding flows from private placements with ultra-long maturities, increased retail inflows into State Savings, and strong demand for our Treasury Bills and Euro commercial paper, " Frank O'Connor, NTMA's Director of Funding and Debt Management, said.
He said the NTMA's next bond auction is scheduled for September and it will continue to monitor fiscal developments in the interim.