State auctions 1bn of bonds

THE Government sold €1 billion of bonds after receiving healthy demand that showed growing investor confidence in efforts to fix the eurozone’s worst public finances.

The Government auctioned €300 million of 4% notes maturing in 2014 to yield an average of 3.9%, and €700m of 4.4% securities due in 2019 to yield 5.19%, the National Treasury Management Agency said from Dublin.

Finance Minister Brian Lenihan said the bond sale “went quite well”.