Turkish Treasury borrows $1.5B through auctions

Treasury and Finance Ministry holds two auctions for borrowing from domestic markets

The Turkish Treasury borrowed 11 billion Turkish liras (nearly $1.5 billion) from domestic markets on Monday, said an official statement.

The Treasury and Finance Ministry announced that some 6 billion Turkish liras (about $858 million) five-month zero coupon treasury bill re-open, 4th issuance was sold in the first auction.

The treasury bill will be settled on Wednesday and mature on Oct. 7, 2020. The total tender amounted to 11 billion Turkish liras ($1.5 billion) with a 54% accepted/tendered rate.

The Treasury said the term rate of 161-day government bonds was accepted at 3.37%, while the annual simple and compound interest rates were 7.63% and 7.79%, respectively.

In the second auction on Monday, the Treasury issued seven-year Floating Rate Note bonds semiannually, re-open totaling 4.9 billion Turkish liras (nearly $715 million).

The bonds will be settled on Wednesday with a maturity date of Nov. 4, 2026.

According to the ministry, the total tender in the second auction amounted to 7.9 billion Turkish Liras, with a 62.6% accepted/tendered rate.

The term rate of 2,380-day government bonds was accepted at 7.25% of the periodic interest rate.

Anadolu Agency

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