Turkish Treasury borrows $830M through auctions

Treasury and Finance Ministry holds 2 auctions for domestic markets to issue treasury bill, government bond

Tuba Sahin   | 16.06.2020
Turkish Treasury borrows $830M through auctions


The Turkish Treasury borrowed nearly 5.68 billion Turkish liras ($830 million) from domestic markets on Tuesday. 

Some 2.48 billion Turkish liras ($362 million) in 6-month zero coupon treasury bill (re-opened, second issue) were up for auction that will be settled on Wednesday, and mature on Dec. 9, the Treasury and Finance Ministry said.

The total tender for the treasury bills hit 6.5 billion Turkish liras ($950 million) with a 38.1% accepted/tendered rate.

The Treasury said the term rate of 175-day treasury bill was 3.87%, while the annual simple and compound interest rates were 8.04% and 8.21%, respectively.

In the second auction, the Treasury issued three-year Turkish lira overnight reference rate (TLREF)-indexed bonds -- re-open, quarterly, fourth issue -- totaling 3.2 billion Turkish liras ($468 million).

The government bonds will be settled on Wednesday with a maturity date of June 21, 2023.

According to the ministry, the total tender in the second auction amounted to 6.6 billion Turkish liras ($965 billion), with a 48.5% accepted/tendered rate.

The term rate of 1,099-day government bonds was accepted at 2.56%, while the annual simple and compound interest rates were 10.24% and 10.64%, respectively.

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