Sept 23 (Reuters) - Ireland sold on Thursday 400.1 million euros of treasury bills, the middle of a planned 300 million to 500 million euros target range, while average yields fell on the February paper and rose on April paper from the previous sale.
Ireland, which is fully funded until the middle of next year, has recently shrunk the amount of short-term paper for sale but is continuing with scheduled auctions to reassure investors that it can still tap debt markets despite concerns about its financial situation.
Similar to auctions of other issuers on the euro zone periphery, including Ireland's auction of bonds earlier this week, demand was good in Thursday's t-bill auction particularly or the April bill.
Results from Irish treasury:
T-BILLS MATURING FEB. 14 2011
LATEST SALE PVS SALE
SALE AMOUNT 300 mln 150.1 mln
BID-TO-COVER 4.08 9.4
AVERAGE YIELD 1.907 1.925
HIGHEST YIELD ALLOCATED 1.99 1.99
HIGHEST YIELD ALLOCATED IN FULL 1.98 1.98
LOWEST YIELD 1.80 1.87
T-BILLS MATURING APRIL 18, 2011
SALE AMOUNT 100.1 mln 250 mln
BID-TO-COVER 11.7 5.4
AVERAGE YIELD 2.231 2.19
HIGHEST YIELD ALLOCATED 2.25 2.2
HIGHEST YIELD ALLOCATED IN FULL 2.23 2.2
LOWEST YIELD 2.2 2.17
(Reporting by Carmel Crimmins and Andras Gergely)