Ziraat Bank to issue 700 million liras of bills

ANKARA - Anatolia News Agency

Demands for Ziraat Bank’s bill issuance of 700 million liras can be made at its branches. Hürriyet photo

State-run Ziraat Bank will issue bank bills with a nominal amount of 700 million Turkish Liras on August 8, 9 and 10 with a maturity period of 178 days.

The bank plans to issue a separate 500 million liras of bonds if there is additional demand.

The bills will be traded on the Istanbul Stock Exchange Bonds and Bills Market. They will also be traded on the secondary market. The minimum sale amount is 1,000 liras for institutional investors, while the figure is 100 liras for individual investors. The book-building transaction will be overseen by bank branches, ATMs, the online banking service and investor advisory hotlines.

The bank says the bills have about a 5-percent tax advantage compared with deposits and provide higher returns than treasury bonds and government bills.