Turkish Treasury raised 1.25 billion euros from bond auction

ANKARA

Turkey has raised 1.25 billion euros from bonds due March 2025, the Treasury and Finance Ministry announced on Jan. 25.

The ministry on Jan. 24 had mandated BNP Paribas, Deutsche Bank and JP Morgan for the bond issuance.

“The transaction was finalized with a nominal amount of 1.25 billion euros. The proceeds of the issue will be transferred to the Treasury accounts on Jan. 31,” the ministry said in a statement on its website.

The bond has a coupon rate of 4.625 percent and a yield to investor of 4.75 percent.

“The offering attracted an order book of more than three times the actual issue size from more than 200 accounts. Some 47 percent of the bonds have been sold to investors in the U.K., 21 percent in the U.S., 6 percent in Germany, 5 percent in Switzerland, 12 percent in other European countries, 6 percent in Turkey and 3 percent in other regions,” the statement said. 

With this latest transaction, the amount of funds that has been raised from the international capital markets in 2019 has reached a total of $3.4 billion.