The National Treasury Management Agency has today completed an auction of €1 billion of Government bonds, selling seven and 10 year debt today.

The bonds maturing in 2028 were sold at an average yield of -0.203%, while those maturing in 2031 were sold at an average yield of 0.039%.

Both bonds were oversubscribed, the NTMA said.

With the completion of today's auction, the NTMA has issued €18.5 billion of benchmark bonds this year.

It planned to borrow €16-20 billion on the bond market in 2021 to fund coronavirus-related spending.