NTMA hopes to raise €500m from sale of treasury bills

The National Treasury Management Agency will auction €500m of three-month treasury bills tomorrow as part of its ongoing engagement with the market prior to the exit from the bailout programme in November.

The NTMA has made a series of successful issuances since July — the first time it tapped the markets since the IMF/EU bailout of Nov 2010.

The Government set a fundraising target of €10bn this year as part of a strategy to have enough cash buffers in place to cover borrowing requirements for 18 months.