Turkish Treasury borrows $760M through auctions

ANKARA-Anadolu Agency

The Turkish Treasury borrowed 4.4 billion Turkish liras ($760 million) on Oct. 21 from domestic markets through two auctions.

Some 1.3 billion Turkish liras ($230 million) in three-month zero-coupon treasury bill -- new issuance -- was sold in the first auction, the Treasury and Finance Ministry announced.

The treasury bills will be settled on Oct. 23 and mature on Jan. 22, 2020.

The total tender amounted to 2.1 billion Turkish liras ($360 million) with a 64.1% accepted/tendered rate.

The Treasury said the term rate of 91-day treasury bill was accepted at 3.3%, while the annual simple and compound interest rates were 13.32% and 14%, respectively.

In the second auction, the Treasury issued two-year fixed coupon bonds (new issuance) totaling 3.1 billion Turkish liras ($530 million).

The bonds will be settled on Oct. 23 with a maturity date of Oct., 20, 2021.

The total tender in the second auction amounted to 4.7 billion Turkish liras ($830 million), with a 65.8% accepted/tendered rate.

The term rate of 728-day government bonds was accepted at 6.99%, while the annual simple and compound interest rates were 13.98% and 14.47%, respectively.