Ireland borrows 2.5 billion euros

Ireland borrows 2.5 billion euros

Finance minister michael noonan called the placement a "very welcome and very positive development". The bonds, which mature in 2017, had been placed with investors at a yield of 3.32 percent, the irish debt agency NTMA said in dublin on tuesday evening.

The action is considered as a further step of the crisis state of ireland to be able to finance itself again roughly on the free market. In december 2010, the country slipped under the bailout umbrella of the EU and international rescue funds and is benefiting from loan guarantees totaling 67.5 billion euros. The package expires at the end of 2013.

The interest in the bond was rough, the debt agency announced. Bids worth 7 billion euros had been received. 200 investors had applied for the papers. A number of banks were involved in the placement process. The irish debt agency wants to raise a total of 10 billion euros this year, so a quarter of the target has already been reached.

Recently, the euro crisis country had already auctioned off government bonds and money market securities with shorter maturities, thus successfully testing the market. Signs of economic recovery can be seen in ireland. The country is one of the few european states whose economy has grown recently.

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