The National Treasury Management Agency (NTMA) has raised €750 million in an auction of short-term debt, reaching its target.

The short-term debt will mature in five months and was sold at a yield of -0.24 per cent. Total bids received amounted to €1.42 billion, almost twice what was on offer.

The NTMA is aiming to raise between €10 billion and €14 billion in the international bond markets this year, a significant reduction on the amount raised last year as the Government’s Covid-related spending eases.