The National Treasury Management Agency said it has sold €750m worth of Irish Treasury Bills at an auction today - meeting its auction target.

The NTMA said that total bids received amounted to €2.277 billion, which was three times the amount on offer. 

The Treasury Bills, which have a maturity of six months, were sold at a yield of -0.54%.

Last month, the NTMA said that total bond funding activity this year will be at the upper end of its €20-24 billion funding range. 

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.

The NTMA's next bond auction is scheduled for September and it said it will continue to monitor fiscal developments in the interim.