Turkish Treasury borrows $1 bln through auctions

ANKARA- Anadolu Agency

The Turkish Treasury borrowed 6.95 billion Turkish liras ($1.01 billion) from domestic markets on June 23, according to an official statement.

The Treasury and Finance Ministry announced that some 3.54 billion Turkish liras ($516.3 million) three-year fixed coupon bond- semiannually, first-issue- was sold in the first auction.

The Treasury bill will be settled on Wednesday and mature on Jan. 18, 2023. The total tender amounted to 6.87 billion Turkish liras ($1 billion) with a 51.5% accepted/tendered rate.

The Treasury said the term rate of 938-day government bonds was accepted at 4.74%, while the annual simple and compound interest rates were 9.48% and 9.70%, respectively.

In the second auction on Tuesday, the Treasury issued five-year CPI-indexed bonds- semiannually, first-issue- totaling 3.41 billion Turkish liras (nearly $497.5 million).

The bonds will be settled on Wednesday with a maturity date of June 18, 2025.

According to the ministry, the total tender in the second auction amounted to 8.33 billion Turkish liras ($1.2 billion), with a 41% accepted/tendered rate.

The term rate of 1,820-day government bonds was accepted at 0.79% of the periodic interest rate, while the annual simple and compound interest rates were both 1.58%.