Turkish Treasury borrows $934M through auctions

ANKARA

The Turkish Treasury borrowed nearly 6.35 billion Turkish liras ($934 million) from domestic markets on Tuesday.

Some 1.95 billion Turkish liras ($286.7 million) in 12-months zero coupon bonds (re-opened, fourth issue) were up for auction that will be settled on Wednesday, and mature on June 9, 2021, the Treasury and Finance Ministry said.

The total tender for the government bonds was 4.2 billion Turkish liras ($617 million) with a 46.5% accepted/tendered rate.

The Treasury said the term rate of 364-day government bonds was accepted at 8.45%, while the annual simple and compound interest rates were both 8.45%.

In the second auction, the Treasury issued seven-year Floating Rate Note bonds (semiannually, re-open, second issue) totaling 4.4 billion Turkish liras ($647 million).

The bonds will be settled on Wednesday with a maturity date of May 5, 2027.

According to the ministry, the total tender in the second auction amounted to 7.75 billion Turkish liras ($1.14 billion), with a 56.5% accepted/tendered rate.

The term rate of 2,520-day government bonds was accepted at 4.95%, while the annual simple and compound interest rates were 9.90% and 10.14%, respectively.