Money

Turkish Treasury borrows $1.7B from domestic markets

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

The Turkish Treasury borrowed 10.6 billion Turkish liras ($1.72 billion) from domestic markets this week, the Treasury and Finance Ministry announced on Tuesday.

Some 2.88 billion Turkish liras ($467.5 million) in five-year CPI indexed Treasury bills reopen, semiannually, second issue were sold in an auction on Monday.

The Treasury bills will be settled on Wednesday and mature on Jan. 29, 2025.

The total tender amounted to 6.07 billion Turkish liras ($985.4 million), with a 47.5% accepted/tendered rate.

The Treasury said the term rate of the 1,785-day Treasury bills was accepted at 1.20%, while the annual simple and compound interest rates were 2.39% and 2.41%, respectively.

In another auction on Tuesday, the Treasury issued 15-month zero coupon Treasury bills first issue totaling 4.89 billion Turkish liras ($793.9 million).

The bonds will be settled on Wednesday with a maturity date of March, 11, 2020.

The total tender in the second auction amounted to 8.83 billion Turkish liras ($1.43 billion), with a 55.4% accepted/tendered rate.

The term rate of 455-day government bonds was accepted at 14.12%, while the annual simple and compound interest rates were 11.30% and 11.14%, respectively.

In the last auction on Tuesday, seven-year floating rate bonds (semiannually, reopen, fifth issue) were sold, totaling 2.84 billion Turkish liras ($461 million).

The bonds will also be settled on Wednesday with a maturity date of Nov. 14, 2026.

The third auction’s total tender was 5.66 billion Turkish liras ($919 million), with a 50.1% accepted/tendered rate.

The 2,429-day government bonds were accepted at 7.21%, while the annual simple and compound interest rates were 14.41% and 14.93%, respectively.

Source
Anadolu Agency
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