Turkish Treasury borrows $981M through two auctions

ISTANBUL

The Turkish Treasury has borrowed 5.38 billion Turkish liras ($981.4 million) from domestic markets, according to an official statement Tuesday.

The first auction was held for 9-month zero-coupon bonds (reopen, second issuance), amounted to 2.76 billion Turkish liras ($503.4 million), the Treasury and Finance Ministry said in the statement.

The government bonds will be settled on Wednesday and mature on Dec. 11, 2019, while the total tender for the bonds was 3.86 billion Turkish liras ($704 million) with a 71.4-percent accepted rate.

The interest rate of the 266-day bonds was accepted at a 14.23-percent term rate, as the annual simple and compound interest rates were 19.47 and 19.97 percent, respectively.

In a second auction on Tuesday, the Treasury borrowed 2.63 billion Turkish liras ($479.2 million) by issuing five-year CPI-indexed government bonds (semiannually, reopen, third issuance) to be settled on Wednesday and mature on Jan. 10, 2024.

The total tender for the bonds was 3.22 billion Turkish liras ($587.3 million), with a 81.5 percent accepted/tendered rate.

The ministry said the term rate of 1,757-day bonds was accepted at 1.94 percent, while the annual simple and compound interest rates were 3.89 and 3.92 percent, respectively.

According to the ministry's borrowing strategy, the Treasury projected to hold nine bond-auctions and a direct sale of lease certificate in the February-April period to borrow some $6.6 billion from domestic markets.

ISTANBUL

The Turkish Treasury has borrowed 5.38 billion Turkish liras ($981.4 million) from domestic markets, according to an official statement Tuesday.

The first auction was held for 9-month zero-coupon bonds (reopen, second issuance), amounted to 2.76 billion Turkish liras ($503.4 million), the Treasury and Finance Ministry said in the statement.

The government bonds will be settled on Wednesday and mature on Dec. 11, 2019, while the total tender for the bonds was 3.86 billion Turkish liras ($704 million) with a 71.4-percent accepted rate.

The interest rate of the 266-day bonds was accepted at a 14.23-percent term rate, as the annual simple and compound interest rates were 19.47 and 19.97 percent, respectively.

The total tender for the bonds was 3.22 billion Turkish liras ($587.3 million), with a 81.5 percent accepted/tendered rate.

The ministry said the term rate of 1,757-day bonds was accepted at 1.94 percent, while the annual simple and compound interest rates were 3.89 and 3.92 percent, respectively.