The National Treasury Management Agency has raised €3.5 billion through a 20 year 'green' bond issued today.

The proceeds of green bonds must be used for environmental and sustainable development projects and attract investors from funds which specialise in this kind of investment.

The Irish Sovereign Green Bond, which matures in October 2043, attracted €35 billion in orders from just under 300 investors.

The yield, or rate, on the bond was 3.106%.

Dave McEvoy, the NTMA Director of Funding and Debt Management, said that green bonds now account for "over 7%" of Ireland’s total benchmark bonds.

He also said that with "relatively low levels of maturing debt this year" the NTMA has "flexibility in managing our issuance over the remainder of 2023."

The NTMA has previously indicated it intends to raise between €7 billion and €11 billion euro this year.

Yesterday, the Department of Finance indicated that the public finances returned to surplus last year of just over €5 billion.