DUBLIN, April 10 Ireland sold 1 billion euros
($1.4 billion) of 10-year debt as planned on Thursday, bettering
the record low yields achieved last month at its first regular
auction in four years.
Dublin is already fully funded for 2014 and is aiming to
raise 8 billion euros this year to complete pre-funding for
2015, over 70 percent of which it has already collected from the
two auctions and a 10-year issue in January.
The speedy progress towards that target continued on
Thursday when 1 billion euros of the 10-year bond was sold at a
yield of 2.917, lower than last month's 2.967 percent, the
National Treasury Management Agency (NTMA) said on its website.
The auction received 2.8 times more bids than needed to
complete the auction.
March's debt sale, also of the bond maturing in 2024, was
the first auction since September 2010, before Ireland was
locked out of bond markets and hurtled towards a European
Union/International Monetary Fund bailout after a property crash
led to a deep recession and austerity.
The NTMA will hold its next bond auction on May 8.
Ireland has been raising debt periodically for over two
years through debt swaps and syndicated issues, a strategy that
has been copied by Portugal which hopes to follow Ireland out of
its bailout next month.
Twice bailed-out Greece, at risk of crashing out of the euro
zone just two years ago, will issue its first sovereign bond in
almost four years on Thursday having attracted more than 11
billion euros of investor interest.
($1 = 0.7234 Euros)
(Reporting by Padraic Halpin Editing by Jeremy Gaunt)