Gokhan Ergocun
25 February 2020•Update: 27 February 2020
ISTANBUL
The Turkish Treasury borrowed 6.32 billion Turkish liras ($1.04 billion) from domestic markets this week, the Treasury and Finance Ministry announced.
Some 3.26 billion Turkish liras ($532.05 million) in two-year fixed coupon rate Treasury bills - reopen, semiannually, fifth issue - were sold in an auction on Monday.
The Treasury bills will be settled on Wednesday and mature on Oct. 20, 2021.
The total tender amounted to 6.6 billion Turkish liras ($1.08 billion), with a 49.3% accepted/tendered rate.
The Treasury said the term rate of the 602-day Treasury bills was accepted at 5.75%, while the annual simple and compound interest rates were 11.51% and 11.84%, respectively.
In another auction on Tuesday, the Treasury issued two-year Turkish lira overnight reference rate (TLREF)-indexed Treasury bills - semiannually, reopen, second issue – totaling 3.06 billion Turkish liras ($499.4 million).
The bonds will be settled on Wednesday with a maturity date of Jan. 26, 2022.
The total tender in the second auction amounted to 5.76 billion Turkish liras ($940.07 million), with a 53.2% accepted/tendered rate.
The term rate of 700-day government bonds was accepted at 2.50%, while the annual simple and compound interest rates were 9.99% and 10.37%, respectively.
