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Ireland Sells €500 million of Treasury Bills by auction

16 May 2013 – The National Treasury Management Agency (NTMA) has today completed an auction of Irish Treasury Bills, selling the target amount of €500 million.

Total bids received amounted to €1.822 billion which was 3.6 times the amount on offer. The Treasury Bills, which have a maturity of three months, were sold at an annualised yield1 of 0.129%.

Maturity Amount Annualised Yield Cover
19 Aug 2013 €500m 0.129%    3.6 times

1 Market convention is to quote the yield on an annualised basis i.e. the rate of interest that would apply if the investment term was one year. As these Bills have a three-month maturity, the actual interest cost on them is proportionately less than the annualised rate.