NTMA auction to raise €500m

The NTMA will tomorrow raise €500m through an auction of three-month treasury bills.

The NTMA said in a statement: “This will be the first auction of 2013 and, subject to market conditions, will be followed by two further monthly auctions in the first quarter of the year.”

The Government ended last year with €23bn in cash and raised a further €2.5bn, which means it is fully funded up to the end of 2014.