Turkish Treasury borrows $1.7 bln from domestic markets

ISTANBUL - Anadolu Agency

The Turkish Treasury borrowed 10.6 billion Turkish liras ($1.72 billion) from domestic markets this week, the Treasury and Finance Ministry announced on March 10.

Some 2.88 billion Turkish liras ($467.5 million) in five-year CPI indexed Treasury bills – reopen, semiannually, second issue – were sold in an auction on March 10.

The Treasury bills will be settled on March 11 and mature on Jan. 29, 2025.

The total tender amounted to 6.07 billion Turkish liras ($985.4 million), with a 47.5 percent accepted/tendered rate.

The Treasury said the term rate of the 1,785-day Treasury bills was accepted at 1.20 percent, while the annual simple and compound interest rates were 2.39 percent and 2.41 percent, respectively.

In another auction on March 10, the Treasury issued 15-month zero coupon Treasury bills – first issue – totaling 4.89 billion Turkish liras ($793.9 million).

The bonds will be settled on March 11 with a maturity date of March, 11, 2020.

The total tender in the second auction amounted to 8.83 billion Turkish liras ($1.43 billion), with a 55.4 percent accepted/tendered rate.

The term rate of 455-day government bonds was accepted at 14.12 percent, while the annual simple and compound interest rates were 11.30 percent and 11.14 percent, respectively.

In the last auction on March 10, seven-year floating rate bonds (semiannually, reopen, fifth issue) were sold, totaling 2.84 billion Turkish liras ($461 million).

The bonds will also be settled on Wednesday with a maturity date of Nov. 14, 2026.

The third auction's total tender was 5.66 billion Turkish liras ($919 million), with a 50.1 percent accepted/tendered rate.

The 2,429-day government bonds were accepted at 7.21 percent, while the annual simple and compound interest rates were 14.41 percent and 14.93 percent, respectively.