The National Treasury Management Agency (NTMA) is set to raise €750 million in a forthcoming auction of short-term treasury bills.

The auction will take place on February 18th and the NTMA will offer €750 million of Irish treasury bills maturing on August 23rd this year.

The auction is confined to recognised primary dealers and eligible counterparties.

The NTMA expects to raise between €16 billion and €20 billion in the bond markets this year to cover a budget gap caused by the Government’s response to Covid-19 and potential fallout from Brexit. It raised about a third of this, or €5.5 billion, in a 10-year bond sale in January.