NTMA to hold Bond Auction on 8th May

The National Treasury Management Agency (NTMA), which manages the national debt, announces that it will hold a bond auction tomorrow, 8th May. The auction will be conducted on the Bloomberg Auction System and will be confined to recognised primary dealers. A non-competitive auction for 15 per cent of the amount sold in the competitive auction will immediately follow and will close at 10:00 am on Friday 9 May.

The details of the auction are as follows:

• Bond to be auctioned:  3.40% Treasury Bond 2024
• Auction size:  €750 million
• Auction opens:  8:00 am
• Auction closes:  10:00 am
• Settlement Date: 13 May 2014

The NTMA raised €1bn in a bond auction last month. That issue was 2.8 times oversubscribed. The auction of the 3.4pc treasury bonds resulted in a yield of 2.917pc. Following that auction, the NTMA has raised €5.75bn in the bond markets so far this year, which is more than 70pc of its €8bn funding target for the full year.

Please see the NTMA’s website www.ntma.ie for further details of the Primary Dealer System and bond issuance arrangements.