A further €1.5 billion has been raised by the Government through an auction of two bonds, one maturing in 2014 and the other in 2025, by the State’s debt manager, the National Treasury Management Agency (NTMA).

The debt-raising brings to €6.5 billion the total amount raised by the NTMA, or just under a third of the Government’s €20 billion borrowing requirements for the year.

The 2014 bond was sold at an average yield of 3.1 per cent, while the 2025 bond was sold at an average yield of 5.4 per cent.