Turkish Treasury borrows over $1.4B through auctions

ANKARA – Anadolu Agency

The Turkish Treasury borrowed a total of 6.72 billion Turkish liras ($1.42 billion) from domestic markets on June 18, according to an official statement.

The Treasury Undersecretariat reported that 3.29 billion Turkish liras ($697.74 million) in five-year fixed coupon government bonds (semiannually, first issue) were sold in an auction.

The government bonds will be settled on Wednesday and mature on June. 14, 2023. The total tender amounted to 4.69 billion Turkish liras ($993.5 million) with a 70.2 percent accepted/tendered rate.

The Treasury said the term rate of 1,820-day government bonds was accepted at 8.28 percent, while annual simple and compound interest rates were 16.56 and 17.24 percent, respectively.

In Monday's second auction, the Treasury issued 10-year consumer-price-indexed government bonds (semiannually, re-open, third issue) totaling 3.43 billion Turkish liras ($727.4 million).

The bonds will be settled on Wednesday with a maturity date of Jan. 12, 2028.

According to the undersecretariat, the total tender in the second auction amounted to 5.71 billion Turkish liras ($1.21 billion), with a 60 percent accepted/tendered rate.

The term rate of 3,493-day government bonds was accepted at 1.57 percent, while annual simple and compound interest rates were 3.15 and 3.17 percent, respectively.

The Treasury will set three more auctions to borrow on Tuesday.