Ireland's first bond sale since 2010 a success

Ireland's return to the bond markets for the first time since being locked out in 2010 has been a success. €5bn of benchmark ten-year bonds were sold, with reports that over €12bn of orders were placed by traders. This bond auction marks an important step in Ireland's exit from its obligations from an EU/IMF bailout.

Traders said the new debt would yield around 4.15 percent, compared to a yield of 3.7 percent on Ireland's current benchmark 2020 bond.

At the height of bailout fear less than two years ago, the yield on the 2020 bond had stood at more than 15 percent.

(Reuters)