Turkish Treasury borrows $600 mln through auctions

ANKARA- Anadolu Agency

The Turkish Treasury borrowed 4.47 billion Turkish liras ($600 million) from domestic markets through two auctions held on March 16. 

Some 1.8 billion Turkish liras ($240 million) in two-year Fixed Coupon Bond (semiannually, re-open, the fifth issue) were up for auction that will be settled on Wednesday with a maturity date of Nov. 9, 2022, the Treasury and Finance Ministry said.

The total tender for the government bonds was 3.32 billion Turkish liras ($443 million) with a 54.4% accepted/tendered rate.

The term rate of 602-day bonds was accepted at 7.94%, while the annual simple and compound interest rates were 15.87% and 16.50%, respectively.

In the second auction on Tuesday, the Treasury issued a five-year Fixed Coupon Bond - semiannually, eighth issue - totaling 2.66 billion Turkish liras (nearly $356 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 almost 5.1 billion Turkish liras ($681 million), with a 52.3% accepted/tendered rate.

The term rate of 1,659-day government bonds was accepted at 7.51% of the periodic interest rate, while the annual simple and compound interest rates were 15.01% and 15.57%, respectively.