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Ireland — which we said yesterday has the hottest economy in Europe — has announced another important milestone this morning. It is going to return to the public credit markets for the first time since its bailout in late 2010.Here’s the announcement.
NTMA to Resume Treasury Bill Auctions
Tuesday 3 July 2012 – The National Treasury Management Agency (NTMA) announces that it will
recommence Treasury Bill auctions on Thursday 5 July 2012. The NTMA will offer €500 million of
Treasury Bills with a three-month maturity in its first such auction since September 2010.
Speaking today, NTMA Chief Executive John Corrigan said: “The resumption of Treasury Bill
auctions follows an intensive engagement with investors both domestically and overseas during
the past 18 months and marks an important first step in our phased re-entry to the capital
The details of the auction on 5 July are as follows:
• Auction size: €500 million.
• Maturity: 15 October 2012.
• ISIN Code: IE00B8N4J411 (new line).
• Auction opens: 9:30 a.m.
• Auction closes: 10:30 a.m.
• Settlement date: 9 July 2012.
The auction will be conducted on the Bloomberg Auction System and will be confined to
recognised Primary Dealers and Eligible Counterparties.
A non-competitive auction will immediately follow the competitive auction and will close on Friday
6 July at 4 p.m.
The Bills will be listed on the Irish Stock Exchange and Primary Dealers are subject to the normal
reporting obligations to the Exchange.
Please see Information Memorandum on Irish Treasury Bills July 2012 for more details.