Turkey borrows over $706M from domestic markets

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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

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