Turkish Treasury borrows $770M through auction

By Tuba Sahin

ANKARA (AA) - The Turkish Treasury borrowed 4.61 billion Turkish liras ($770 million) from domestic markets on Monday, according to an official statement.

The Treasury and Finance Ministry announced that five-year CPI-indexed government bonds (new issue, semiannually) were sold in an auction.

The government bonds will be settled on Wednesday and mature on Jan. 29, 2025. The total tender amounted to 8.36 billion Turkish liras ($1.4 million) with a 55.2% accepted/tendered rate.

The Treasury said the term rate of 1,820-day government bonds was accepted at 1.16%, while the annual simple and compound interest rates were 2.31% and 2.32%, respectively.