Economy

Turkey: Treasury borrows nearly $270M through auction

Treasury and Finance Ministry holds auction for domestic markets to issue government bonds

  | 22.01.2019
Turkey: Treasury borrows nearly $270M through auction

By Gokhan Ergocun

ISTANBUL

The Turkish Treasury has borrowed over 1.43 billion Turkish liras (some $268 million) from domestic markets, an official statement said on Tuesday.

An auction was held for two-year fixed rate bonds (reopen, sixth issuance), the Treasury and Finance Ministry announced.

The government bonds will be settled on Wednesday and mature on Aug. 8, 2020, while the total tender was over 3.2 billion Turkish liras ($596 million), with a 44.9-percent accepted/tendered rate.

The interest rate of the 567-day bonds was accepted at a 8.66-percent term rate, with annual simple and compound interest rates of 17.32 and 18.06 percent, respectively.

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