The National Treasury Management Agency (NTMA), which is fully pre-funded until the end of 2015, will auction €500 million of treasury bills with a six month maturity this Thursday, November 20th. Typically, the NTMA's short term paper has been issued with a maturity of three months.

The auction will commence at 8.30 am, and the bills will have a maturity date of May 25th 2015.

Earlier this month the NTMA raised €3.75 billion in 15-year bonds , the first time it has issued debt of this maturity since 2009. The debt was issued at an interest rate of 2.487 per cent, the lowest level ever for Irish 15-year bonds.