The Turkish Treasury borrowed 1.9 billion Turkish liras ($230 million) from domestic markets on May 25, according to an official statement.
The Treasury and Finance Ministry announced that some 685 million Turkish liras ($82 million) in one-year fixed coupon bonds – semiannually, seventh-issuance – were sold in an auction.
The Treasury bills will be settled on Wednesday and mature on Nov. 9, 2022. The tender totaled to 1.4 billion Turkish liras ($160 million) with a 49.5% accepted/tendered rate.
The term rate of 532-day government bonds was accepted at 8.9%, while the annual simple and compound interest rates were 17.80% and 18.59%, respectively.
In the second auction on Tuesday, the Treasury issued seven-year Floating Rate Note bonds (semiannually, sixth issue) totaling 1.2 billion Turkish liras ($148 million).
The bonds will be settled on Wednesday with a maturity date of Nov. 17, 2027.
According to the ministry, the total tender in the second auction amounted to 2.3 billion Turkish liras ($270.7 billion), with a 54.5% accepted/tendered rate.
The term rate of 2,366-day government bonds was accepted at 8.98%, while the annual simple and compound interest rates were 17.95% and 18.76%, respectively.
Hurriyet Daily News