Turkish Treasury borrows some $800M through auctions

By Aysu Bicer

ANKARA (AA) - The Turkish Treasury borrowed 6 billion Turkish liras ($800 million) from domestic markets on Tuesday, an official statement said.

Turkey's Treasury and Finance Ministry announced that some 1.5 billion Turkish liras ($201 million) in zero coupon bonds -- new issuance -- were sold in the first auction.

The Treasury bill will be settled Wednesday and mature on April 13, 2022. The total tender amounted to 2.9 billion Turkish liras ($389 million) with a 53% accepted/tendered rate.

The term rate of the 448-day government bonds was accepted at 19.39%, while the annual simple and compound interest rates were 15.76% and 15.49%, respectively.

In the second auction, the Treasury issued five-year Turkish lira overnight reference rate (TLREF)-indexed bonds totaling 4.5 billion Turkish liras ($603 million).

These will be settled on Wednesday with a maturity date of Jan. 14, 2026.

According to the ministry, the total tender in the second auction amounted to 7 billion Turkish liras ($939 million), with a 64.6% accepted/tendered rate.

The term rate of the 1,820-day government bonds was accepted at 4.28% of the periodic interest rate, while the annual simple and compound interest rates were 17.11% and 18.24%, respectively.