NTMA sells €750 million in short-term debt at a negative yield

The Treasury Bills, which have a maturity of six months, were sold at a yield of -0.49%. Picture:iStock

The National Treasury Management Agency (NTMA) has completed an auction of Irish Treasury Bills, selling the target amount of €750 million.

Total bids received amounted to €2.835 billion which was 3.8 times the amount on offer. The Treasury Bills, which have a maturity of six months, were sold at a yield of -0.49%.

It means investors will be paid less when the bond matures than what they are paying right now.

Last week the NTMA raised €6 billion in long-term debt through the sale of a new 10-year Treasury Bond maturing in October 2030. The funds were raised at a yield of 0.285%.

The bands attracted orders of more than €66 billion included 400 individual accounts.