Turkish Treasury borrows $410 mln through auctions

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The Turkish Treasury borrowed 3.3 billion Turkish liras ($410 million) from domestic markets on Nov. 10, according to an official statement.

The Treasury and Finance Ministry announced that some 1.8 billion Turkish liras ($225 million) two-year fixed coupon bond – semiannually, new-issuance – was sold in the first auction.

The Treasury bill will be settled on Wednesday and mature on Nov. 9, 2022. The total tender amounted to 4.8 billion Turkish liras ($590 million) with a 38.4% accepted/tendered rate.

The term rate of 728-day government bonds was accepted at 7.10%, while the annual simple and compound interest rates were 14.20% and 14.70%, respectively.

In the second auction on Tuesday, the Treasury issued five-year Fixed Coupon Bond – semiannually, second-issue – totaling 1.5 billion Turkish liras (nearly $185 million).

The bonds will be settled on Wednesday with a maturity date of Oct. 1, 2025.

According to the ministry, the total tender in the second auction amounted to 4.2 billion Turkish liras ($520 million), with a 34.6% accepted/tendered rate.

The term rate of 1,785-day government bonds was accepted at 6.63% of the periodic interest rate, while the annual simple and compound interest rates were 13.27% and 13.71%, respectively.

Hurriyet Daily News

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