NTMA auction to raise €1.5bn

The National Treasury Management Agency (NTMA) is to raise up to €1.5 billion from a bond auction to be held next week.

The National Treasury Management Agency (NTMA) is to raise up to €1.5 billion from a bond auction to be held next week.

A 4 per cent bond due to mature in 2014 wil be offered, along with a 4.5 per cent bond that will mature in 2020.

The NTMA said the auction size would be in the range of €1 billion to €1.5 billion, and is part of its regular funding programme.

The NTMA has raised €12.6 billion of the €20 billion required by the Government this year to meet the deficit in the public finances.

The auction will see the NTMA test the bond markets for the first time since the Greek economic turmoil intensified and the EU agreed a €750 billion fund to stem the euro zone sovereign debt crisis.