Turkish Treasury plans 19 billion liras borrowing in May

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Turkey’s Treasury has announced its domestic borrowing strategy for the months of May, June and July.

The authority plans to borrow a total of 18.8 billion Turkish Liras ($3.15 billion) this month against its domestic debt redemption of 19.2 billion liras.

In a statement on its website, the Treasury said it will hold four auctions to raise 18.8 billion liras. It will sell 12-month zero coupon bonds, five-year CPI-indexed bonds, two-year fixed coupon bonds and six-year floating coupon bonds in those auctions.

The authority also said domestic debt redemption is projected as 11.4 billion liras, while domestic borrowing is projected as 11 billion liras in June. It will hold five auctions in the month to sell government securities.

In July, the Treasury faces a heavier debt back payment. In the month, it will redeem 21.4 billion liras of domestic debt and it plans to borrow 19.5 billion liras through four auctions.

Hurriyet Daily News

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