NTMA to auction €500m in treasury bills on Thursday

The National Treasury Management Agency (NTMA) will auction a further €500 million of three-month treasury bills on Thursday.

The monthly auction follows a similar sale last month, when the NTMA sold €500 million in treasury bills at an annualised rate of 0.20 per cent.

Last month’s auction, which covered bills that will mature in September, attracted bids of almost three times what was on offer.

Thursday’s auction will be the NTMA’s seventh auction this year and will be followed by one further auction in September prior to the country’s planned exit from the EU-International Monetary Fund bailout programme.

The NTMA has set a total funding target of €10 billion for 2013.