Ireland sells €500m of Treasury Bills by auction
21 March 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 €1.706 billion which was 3.4 times the amount on offer. The Treasury Bills, which have a maturity of three months, were sold at an annualised yield1 of 0.24%.
| Maturity | Amount | Annualised Yield | Cover |
|---|---|---|---|
| 24 June 2013 | €500m | 0.24% | 3.4 times |
1Market 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.