Economy

Turkish Treasury borrows $440M through auction

Treasury and Finance Ministry holds auction for borrowing from domestic markets

Tuba Sahin   | 10.08.2020
Turkish Treasury borrows $440M through auction

ANKARA

The Turkish Treasury borrowed 3.2 billion Turkish liras ($440 million) from the domestic market in an auction held on Monday.

The Treasury and Finance Ministry announced four-year Turkish lira overnight reference rate (TLREF)-indexed government bonds -- second issue, quarterly -- were up for an auction.

The government bonds will be settled on Wednesday, Aug. 12, and mature on July 17, 2024.

The total tender for the bonds was nearly 6 billion Turkish liras ($820 million) with a 53.1% accepted/tendered rate.

According to the ministry, the term rate of 1,435-day government bonds was accepted at 2.61%, while the annual simple and compound interest rates were 10.45% and 10.86%, respectively.

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