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NTMA sells €750m of Irish Treasury Bills at negative interest rate

The National Treasury Management Agency today held an auction of Irish Treasury Bills and sold the target amount of €750m.    

The NTMA said that total bids received amounted to €3.71 billion which was nearly five times the amount on offer. 

The Treasury Bills, which have a maturity of five months, were sold at a yield of -0.43%.

Last week, the NTMA sold €1.5 billion of nine and 30 year bonds with yields of 0.043% and 0.792% respectively.

The NTMA last month revised its 2020 funding target of €20-24 billion, up from the €10-14 billion envisaged before the crisis. 

It has now issued €12.5 billion worth of bonds so far this year.

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