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

The NTMA said that total bids received for the bills amounted to €1.56 billion, which was more than two times the amount on offer.

The Treasury Bills, which have a maturity of five months, were sold at a yield of -0.605%, it added.

Last week, the NTMA sold €1.5 billion of 10, 12 and 29-year bonds at auction at yields of between 0.3% and 1%.

The auction was at the upper end of the debt agency's €1-1.5 billion range.

The NTMA has now raised €12 billion in bond sales this year.

It plans to borrow between €16 billion and €20 billion on the bond market this year.