Hi °C | Lo °C Ireland's National Treasury Management Agency is to press ahead with an auction of Government bonds next week, despite the ongoing fallout of the Greek debt crisis.
The NTMA had said it might reschedule its regular monthly auction on May 18 because of the turmoil on European markets as well as the high yields it might have to offer.
Borrowing costs have eased after EU nations agreed a €750bn package to ease the eurozone's debt crisis on Monday.
Although markets fell back yesterday the agreement saw market confidence improve and markets surge.
Since the EU deal was announced, the yield, or rate investors demand to buy bonds, has fallen on 10-year government bonds. Greece's yield has come down to less than 8%, while Portugal and Ireland's figures are now around under 5%, having been close to 6% late last week.
The NTMA said it would disclose the amount of debt to be auctioned later this week.
It said its 2014 bond would carry a 4% coupon and that the 10-year bond would pay investors 4.5%.
The Republic has already raised 60% of its planned borrowing needs for the year and has existing cash reserves.
