The Government has sold €1 billion of long-term bonds in an auction this morning, the National Treasury Management Agency (NTMA) has said.
Two bonds were offered at the auction, one which matures in 2011 and pays a coupon of 4 per cent and a bond maturing in 2020 with a 4.5 per cent coupon.
Investors bid for 3.8 times the 2011 debt offered and 2.7 times the 2020 securities available, the NTMA said.
The Government has so far raised €10 billion of an estimated €25 billion it plans to borrow this year to meet the hole in the public finances which has deepened due to the deterioration in the economy.
The NTMA, the State's money manager, has previously announced plans to raise up to €10 billion from short-term loan notes.
It said today that further auctions would be held on the third Tuesday of each month in the second quarter.
