Turkish Treasury borrows $1.5B through auctions

By Aysu Bicer

ANKARA (AA) - The Turkish Treasury borrowed 11 billion Turkish liras (nearly $1.5 billion) from domestic markets on Tuesday, said an official statement.

The Treasury and Finance Ministry announced that some 7.3 billion Turkish liras (about $1 billion) fixed coupon bond -- semiannually, new issuance -- was sold in the first auction.

The Treasury bill will be settled on Wednesday and mature on May 4, 2022. The total tender amounted to 16 billion Turkish liras ($2.3 billion) with a 45.6% accepted/tendered rate.

The Treasury said the term rate of 728-day government bonds was accepted at 4.72%, while the annual simple and compound interest rates were 9.43% and 9.65%, respectively.

In the second auction on Tuesday, the Treasury issued five-year CPI-indexed government bonds -- semiannually, reopen -- totaling 3.8 billion Turkish liras (nearly $537 million).

The bonds will be settled on Wednesday with a maturity date of Jan. 29, 2025.

According to the ministry, the total tender in the second auction amounted to 7.9 billion Turkish liras ($1.1 billion) with a 48% accepted/tendered rate.

The term rate of 1,729-day government bonds was accepted at 1% of the periodic interest rate.