Economy

Turkish Treasury borrows $807M through auctions

Treasury and Finance Ministry holds 3 auctions to borrow from domestic markets

Gökhan Ergöçün   | 04.05.2021
Turkish Treasury borrows $807M through auctions

ISTANBUL 

The Turkish Treasury borrowed 6.7 billion Turkish liras ($807 million) from domestic markets this week.

The Treasury and Finance Ministry announced that 1.32 billion Turkish liras ($158.8 million) in two-year fixed coupon rate government bonds were sold on Monday.

The total tender amounted to 3.46 billion Turkish liras ($416.24 million) with a 38.1% accepted/tendered rate.

The Treasury said the term rate of the 623-day government bonds was accepted at 8.68%, while the annual simple and compound interest rates were 17.36% and 18.11%, respectively.

The Treasury bills will be settled on Wednesday and mature on Jan. 18, 2023.

On Tuesday, in the first auction, the Treasury issued 13-month zero-coupon government bonds – first-issue – totaling 800 million Turkish liras ($96.24 million).

According to the ministry, the total tender in the second auction amounted to 4.6 billion Turkish liras ($553.4 million), with a 64.1% accepted/tendered rate.

The term rate of 406-day government bonds was accepted at 20.46% of the periodic interest rate, while the annual simple and compound interest rates were 18.34% and 18.16%, respectively.

The bills will be settled on Wednesday and mature on June 15, 2022.

In the second auction of Tuesday, some 4.59 billion Turkish liras ($552.3 million) in four-year fixed coupon rate government bonds were sold.

The total tender amounted to 6.97 billion Turkish liras ($838.56 million), with a 65.8% accepted/tendered rate.

The Treasury said the term rate of the 1,505-day government bonds was accepted at 1.49%, while the annual simple and compound interest rates were 2.98% and 3%, respectively.

The Treasury bills will be settled on Wednesday and mature on June, 18, 2025.

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