By Gokhan Ergocun

ISTANBUL

The Turkish Treasury has borrowed 2.56 billion Turkish liras ($483.7 million) from domestic markets, according to an official statement on Monday.

The Treasury and Finance Ministry said the auction was held for six-month floating rate bonds (reopen, third issuance) to be settled on Wednesday and mature on Aug. 6, 2025.

The total tender for the bonds was 3.13 billion Turkish liras ($590.6 million) with a 81.9 percent accepted/tendered rate.

The interest rate of the 2,359-day bonds was accepted at a 9.12 percent term rate, as the annual simple and compound interest rates were 18.24 and 19.07 percent, respectively.

The Treasury is set to hold two more auctions on Tuesday.

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