18/05/2010 - 10:18:17
Two government bonds were this morning auctioned by the National Treasury Management Agency raising a combined total of €1.5bn, the NTMA said.
Two bonds were offered in the auction, the 4.0% Treasury Bond 2014 and the 4.5% Treasury Bond 2020. The overall total amount of the two bonds offered in the auction was in the range of €1bn to €1.5bn.
The NTMA said it had decided to issue a total of €1.5bn - €750m for each bond - as the total bids received amounted to €4.63bn, or 3.1 times the maximum amount on offer in the auction.
The 2014 bond was sold at an average yield of 3.11% while the 2020 bond was sold at an average yield of 4.72%.
Today’s auction brings the total funds raised from the bond market in 2010 to €13.2bn, or 66% of the NTMA’s bond issuance programme for the year, the agency said.
In addition to the funds raised in today’s auction, the NTMA currently has cash balances in excess of €20bn.
The NTMA said it will continue its regular series of monthly bond auctions with the next auction scheduled for June 15.
Read more: http://www.breakingnews.ie/business/bond-auction-raises-15bn-458095.html#ixzz0oH6X3rt1