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

The NTMA said that total bids for the auction amounted to €1.8 billion which was 2.4 times the amount on offer.

The Treasury Bills, which have a maturity of five months, were sold at a yield of -0.70%.

Last week the National Treasury Management Agency sold €1 billion of Government bonds in seven and 10 year debt today.

The NTMA has issued €18.5 billion of benchmark bonds this year.

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