Wednesday, March 20 15:03:48
The National Treasury Management Agency (NTMA) today announced the cancellation of E500 million of the 5pc Treasury Bond due to mature on 18 April 2013.
It said that, as part of its normal operations in the secondary bond market, the NTMA has acquired holdings of this ultra-short dated bond, which it has decided to cancel.
Following this and the earlier cancellation of E500 million on 6 December 2012 the total nominal outstanding for this bond will decline to E4.616 billion.
The NTMA plans to borrow E500m in new three-month debt from the markets at an auction tomorrow.
The auction will be a test of the market for Ireland following the collapse of the controversial bailout deal for Cyprus, which has raised fears that the euro crisis could reignite.