NTMA to hold 11 auctions

Dublin: The National Treasury Management Agency (NTMA) plans to sell between €1 billion and €1.5bn at its monthly bond auctions this year.

The agency will hold 11 auctions this year, starting on January 19, it said.

The NTMA intends to issue €20bn of Irish Government bonds in 2010, a reduction of €13.7bn, or 40%, on the €33.7bn issued in 2009. The bonds will be issued by means of 11 bond auctions to be held on the third Tuesday of each month. In each auction, up to two bonds may be offered and the NTMA envisages auction sizes in the range of €1bn to €1.5bn.