Turkish Treasury borrows $1B+ from domestic markets

Treasury and Finance Ministry issues government bonds for borrowing from domestic markets

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 Monday.

The Treasury bills will be settled on Wednesday and mature on Oct. 20, 2021.

The total tender amounted to 6.6 billion Turkish liras ($1.08 billion), with a 49.3% accepted/tendered rate.

The Treasury said the term rate of the 602-day Treasury bills was accepted at 5.75%, while the annual simple and compound interest rates were 11.51% and 11.84%, respectively.

In another auction on Tuesday, 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 will be settled on Wednesday 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% accepted/tendered rate.

The term rate of 700-day government bonds was accepted at 2.50%, while the annual simple and compound interest rates were 9.99% and 10.37%, respectively.

Anadolu Agency

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