The government will be issuing €100 million in stocks, which are subject to an additional €20 million issue should the offer be oversubscribed on Wednesday.

The stocks will be redeemed in either 2013 at a 3.6 per cent interest rate or in 2021 at a five per cent interest rate. The issue will close on August 8 at noon for applications that do not exceed €100,000 per person or on August 11 at noon for sealed bids.

The Treasury said prices will be announced on Friday.

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