NTMA announces sale of three-month bonds

Ireland is to return to the bond markets this week with the auction of some €500m worth of short-term bonds on Thursday, the National Treasury Management Agency (NTMA) has announced.

Thursday morning's auction by the agency responsible for the national debt is the first since September 2010.

The issuing of the Treasury Bills, which will have a three-month maturity, is regarded by analysts as a first toe in the water prior to Ireland's scheduled full return to the bond markets in 2013.

“The resumption of Treasury Bill auctions follows an intensive engagement with investors both domestically and overseas during the past 18 months and marks an important first step in our phased re-entry to the capital markets," NTMA Chief Executive John Corrigan said in a statement today.