The Turkish Treasury borrowed 4.06 billion Turkish liras ($706.8 million) from domestic markets through an auction and a lease certificate issuance on Nov. 5.
Some 2.34 billion Turkish liras ($407.4 million) in a 5-year fixed rate coupon treasury bill — semiannually, reopen, seventh issuance — was sold in the auction, the Treasury and Finance Ministry announced.
The treasury bills will be settled on Nov. 6 and mature on July 4, 2024.
The total tender amounted to 4.5 billion Turkish liras ($783.5 million) with a 51.6% accepted/tendered rate.
The Treasury said the term rate of 1,722-day treasury bill was accepted at 6.11%, while the annual simple and compound interest rates were 12.22% and 12.59%, respectively.
It also issued CPI Indexed lease certificates worth 1.7 billion Turkish liras ($299.46 million).
The certificates will be settled on Wednesday with a maturity date of Oct. 30, 2024.
According to the ministry’s borrowing strategy, the Treasury projects to hold 12 bond-auctions and a direct sale of lease certificates this October-December period to borrow some 38.9 billion Turkish liras ($6.88 billion) from domestic markets.
Hurriyet Daily News