The National Treasury Management Agency (NTMA) is to auction off treasury bills this Thursday.

The NTMA will offer €500m of bills with a six month maturity.

The auction will open at 8:30am for two hours.

It will be conducted on the Bloomberg auction system and bills will be listed on the Irish Stock Exchange.

The NTMA said earlier this month it was planning to sell bonds worth between €12bn and €15bn in 2015.

The borrowed money will be used to fund the exchequer and to repay more of Ireland's International Monetary Fund (IMF) loans.

Last year the country repaid €9bn to the IMF.