Irish State raises €1bn in cheapest cost in its history, in silver lining to Covid-19 crisis

Lenders across the world gave the Irish State €1bn in free money on Thursday morning and will effectively pay more again for the security of keeping it safe, as global markets tumbled amid the coronavirus crisis.

It came as the National Treasury Management Agency -- the States’’ debt office -- sold €1bn of debt payable in 2029 at a negative interest rate of around 0.15%.