The National Treasury Management Agency (NTMA) has sold €750 million of seven-year bonds at auction.

The bonds were sold at a yield of 0.81 per cent. Total bids received amounted to €1.9 billion which was 2.7 times the amount on offer.

The NTMA has already raised €10.25 billion this year out of a total targeted fund-raising of €12 billion to €15 billion. Most of the money raised to date has been for longer maturities – including €4.5 billion raised in a new 30-year bond.