Turkey borrows over $1.25B from domestic markets

By Gokhan Ergocun

ISTANBUL (AA) - The Turkish Treasury borrowed 8.8 billion Turkish liras ($1.25 billion) from domestic markets through an auction on Monday.

Zero-coupon bonds (semiannually, re-opened, third issue) with a 13-month term rate were sold in the auction, which will be settled on Wednesday and mature on June 9, 2021.

The total tender for the bonds was 19.58 billion Turkish liras ($2.77 billion) with a 45.1% accepted/tendered rate.

The interest rate of the 399-day government bonds was accepted at a 9.12% term rate, while annual simple and compound interest rates were 8.32% and 8.29%, respectively.

The Treasury has announced that it will hold 24 bond auctions and direct sale of lease certificates to borrow 89 billion Turkish liras ($12.7 billion) from domestic markets this May-July.