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NTMA sells €750m of Treasury Bills by auction

The Treasury Bills, which have a maturity of six months, were sold at a yield of 0.255%
The Treasury Bills, which have a maturity of six months, were sold at a yield of 0.255%

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

The NTMA said the Treasury Bills, which have a maturity of six months, were sold at a yield of 0.255%.

Total bids received amounted to €1.401 billion which was almost twice the amount on offer.

The NTMA has issued €5.75 billion in funding so far this year from a planned range of €10-14 billion.

This is down from the €18.5 billion raised in 2021 as the Government expects to spend far less battling the Covid-19 pandemic.

The NTMA cancelled its planned bond auction for June due to the economy's strong fiscal performance so far this year and the lower Exchequer borrowing requirement estimate for 2022.