Turkish Treasury borrows nearly $470M through auction

By Gokhan Ergocun

ISTANBUL (AA) – The Turkish Treasury borrowed around 4.06 billion Turkish liras ($469.9 million) from domestic markets, according to an official statement Monday.

The Treasury and Finance Ministry announced that two-year fixed-coupon government bonds (reopen, second issue) were sold.

The total tender amounted to 5.67 billion Turkish liras ($656.2 million) with a 71.7% accepted/tendered rate.

The Treasury said the term rate of the 700-day government bonds was accepted at 9.04%, while the annual simple and compound interest rates were 18.08% and 18.90%, respectively.

The Treasury bills will be settled on Wednesday and mature on June 14, 2023,

The Treasury will continue to issue lease certificates and government bonds Tuesday and Wednesday for borrowing both from domestic and foreign markets.