The Turkish Treasury borrowed 3.35 billion Turkish liras (around $923 million) from the domestic market in an auction on Tuesday, according to an official statement.
The Undersecretariat of Treasury announced that two-year fixed coupon bonds (semiannually, re-open) were up for auction that will be settled on Wednesday and mature on May 15, 2019.
According to the statement, total tender for the securities was 5.5 billion Turkish liras (some $1.5 billion) with a 60.8 percent accepted/tendered rate.
The interest rate of the fixed coupon bonds was accepted at 5.65 percent term rate, the Treasury said.
By Muhammed Ali Gurtas