Investors swoop on Ireland's first bond sale since bailout exit; yields fall to 8-year lows

Ireland has made a triumphant return to global debt markets as it saw strong demand for its first sale of benchmark 10-year bonds since the country exited its international bailout last month.

Analysts say Tuesday's offering has attracted bids of nearly 15 billion euros ($20.5 billion), five times the conservative target set.

Investor enthusiasm for Ireland's new debt securities influenced the wider market. Yields on the country's existing 10-year bonds fell to 3.25 percent, an 8-year low.

Further details are expected later Tuesday but the demand augurs well for the rest of the year. Ireland had hoped to sell around 10 billion euros in 2014.

Last month, Ireland exited its 3-year emergency loan program supplied by European partners and the International Monetary Fund. Greece, Portugal and Cyprus remain bailout recipients.