Turkish Treasury borrows over $571 mln through auction

ANKARA-Anadolu Agency

The Turkish Treasury borrowed nearly 3.4 billion Turkish liras (around $571 million) from domestic markets, the Treasury and Finance Ministry announced on Jan. 27.

The auction was held for two-year fixed coupon bonds -- reopen (4th issue), semiannually, 6.90 coupon rate -- to be settled on Jan. 29 and mature on Oct. 20, 2021, according to an official statement.

The total tender amounted to 5.71 billion Turkish liras (nearly $960 million), with a 59.3 percent accepted/tendered rate.

The term rate of the 630-day Treasury bills was accepted at 4.93 percent, while the average annual simple and compound interest rates were 9.85 percent and 10.09 percent, respectively.

According to the domestic borrowing strategy, the ministry has projected some 61.6 billion Turkish liras ($10.7 billion) of borrowing from the market through auctions in the period of December 2019 to February 2020.