The National Treasury Management Agency (NTMA), which manages the national debt, confirmed yesterday that it will hold the bond auction this week.
It is pricing the bonds with a coupon, or interest rate, of 3.4pc.
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 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 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.