Gokhan Ergocun
05 November 2019•Update: 05 November 2019
ISTANBUL
The Turkish Treasury borrowed 4.06 billion Turkish liras ($706.8 million) from domestic markets through an auction and a lease certificate issuance on Tuesday.
Some 2.34 billion Turkish liras ($407.4 million) in a 5-year fixed rate coupon treasury bill -- semiannually, reopen, seventh issuance -- was sold in the auction, the Treasury and Finance Ministry announced.
The treasury bills will be settled on Wednesday and mature on July 4, 2024.
The total tender amounted to 4.5 billion Turkish liras ($783.5 million) with a 51.6% accepted/tendered rate.
The Treasury said the term rate of 1,722-day treasury bill was accepted at 6.11%, while the annual simple and compound interest rates were 12.22% and 12.59%, respectively.
It also issued CPI Indexed lease certificates worth 1.7 billion Turkish liras ($299.46 million).
The certificates will be settled on Wednesday with a maturity date of Oct. 30, 2024.
According to the ministry's borrowing strategy, the Treasury projects to hold 12 bond-auctions and a direct sale of lease certificates this October-December period to borrow some 38.9 billion Turkish liras ($6.88 billion) from domestic markets.
