News 16 may — 12:17

Turkish Treasury borrows over $700M through auctions

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The Turkish Treasury borrowed a total of 3.18 billion Turkish liras ($715.07 million) from domestic markets on Tuesday, according to an official statement, Anadolu Agency reports.

The Treasury Undersecretariat reported that 1.52 billion Turkish liras ($342 million) in two-year fixed coupon government bonds (semiannually, re-open, sixth issue) were sold in an auction. 

The government bonds will be settled on Wednesday and mature on Nov. 13, 2019. The total tender was 2.11 billion Turkish liras ($475.96 million) with a 71.9 percent accepted/tendered rate.

The Treasury said the term rate of 546-day government bonds was accepted at 7.99 percent, while annual simple and compound interest rates were 15.97 and 16.61 percent, respectively.

In Tuesday's second auction, the Treasury issued five-year fixed coupon government bonds (semiannually, re-open, fifth issue) totaling 1.66 billion Turkish liras ($373.1 million).

The bonds will be settled on Wednesday with a maturity date of Jan. 18, 2023.

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