Turkish Treasury borrows over $1 bln from domestic markets
ISTANBUL – Anadolu Agency
The Turkish Treasury borrowed 6.32 billion Turkish Liras ($1.04 billion) from domestic markets this week, the Treasury and Finance Ministry announced.
Some 3.26 billion Turkish liras ($532.05 million) in two-year fixed coupon rate Treasury bills - reopen, semiannually, fifth issue - were sold in an auction on Feb. 24.
The Treasury bills were settled on Feb. 26 and will mature on Oct. 20, 2021.
The total tender amounted to 6.6 billion Turkish Liras ($1.08 billion), with a 49.3 percent accepted/tendered rate.
The Treasury said the term rate of the 602-day Treasury bills was accepted at 5.75 percent, while the annual simple and compound interest rates were 11.51 percent and 11.84 percent, respectively.
In another auction on Feb. 25, the Treasury issued two-year Turkish Lira overnight reference rate (TLREF)-indexed Treasury bills - semiannually, reopen, second issue – totaling 3.06 billion Turkish Liras ($499.4 million).
The bonds were settled on Feb. 26 with a maturity date of Jan. 26, 2022.
The total tender in the second auction amounted to 5.76 billion Turkish Liras ($940.07 million), with a 53.2 percent accepted/tendered rate.
The term rate of 700-day government bonds was accepted at 2.50 percent, while the annual simple and compound interest rates were 9.99 percent and 10.37 percent, respectively.
