The National Treasury Management Agency (NTMA) is to auction €500 million in three-month treasury bills this Thursday, September 18th.

The bills have a maturity date of December 22nd 2014 , and the auction will open at 8.30am and close at 10.30am.

The NTMA’s last treasury bill auction took place in June, when it raised €500 million at an annualised yield of 0.105 per cent. The transaction was 4.2 times over-subscribed.

In a presentation earlier this month, the NTMA indicated that more than 85 per cent of the country’s €8 billion funding plan for 2014 had been completed by August of this year, and that it is pre-funded “well into 2015”.