The National Treasury Management Agency has raised €500 million in a sale of short-term debt.

The agency said total bids were 3.8 times the amount on offer for the three-month treasury bills, which were sold at an annualised yield of 0.2 per cent.

The sale followed the successful auction of benchmark 10-year bonds last week, which raised the target of €1 billion. It was the first regular sale of Government debt since exiting the bailout in December.