Turkish Treasury issues some $148M lease certificates

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's Treasury and Finance Ministry announced that it had issued lease certificates worth 846.5 million liras ($147.9 million) on Tuesday.

Certificates will be settled on Wednesday, while their maturity day is Aug. 19, 2021, according to a written statement.

The 728-day lease certificates' periodic rent rate (6 months) was 7.40%, the Treasury noted.

Lease certificates are assets-based security which enable their holders to acquire shares from revenues.

The Treasury also held three auctions this week to borrow around $1.35 billion from domestic markets.

According to the ministry's borrowing strategy, the Treasury projects to hold 14 bond auctions and a direct sale of lease certificates this July-September to borrow some 36.5 billion Turkish liras ($6.3 billion) from domestic markets.