Turkish Treasury borrows nearly $1.2B through auctions

ANKARA

The Turkish Treasury borrowed nearly 8.1 billion Turkish liras ($1.18 billion) from domestic markets on Monday.

Some 3.3 billion Turkish liras ($481 million) in two-year fixed coupon bond (re-opened, semiannually) were up for auction that will be settled on Wednesday, and mature on May 4 in 2022, the Treasury and Finance Ministry said.

The total tender for the treasury bills hit 7.3 billion Turkish liras ($1.06 billion) with a 45.9% accepted/tendered rate.

The Treasury said the term rate of 665-day treasury bill was 4.75%, while the annual simple and compound interest rates were 9.50% and 9.72%, respectively.

In the second auction, the Treasury issued seven-year Floating Rate Note bonds – semiannually, re-open – totaling 4.7 billion Turkish liras ($685 million).

The government bonds will be settled on Wednesday with a maturity date of May 5, 2027.

According to the ministry, the total tender in the second auction amounted to 7.8 billion Turkish liras ($1.13billion), with a 60.6% accepted/tendered rate.

The term rate of 2,492-day government bonds was accepted at 4.96%, while the annual simple and compound interest rates were 9.93% and 10.17%, respectively.