Turkish Treasury borrows $347 mln through auction at interest rate of 25 pct

ANKARA – Anadolu Agency

The Turkish Treasury borrowed some 2.2 billion Turkish liras (around $347 million) from domestic markets, the Treasury and Finance Ministry announced on Sept. 18.

The auction was held for 12-month zero coupon bonds - new issuance - to be settled on Sept. 19 and mature on Sept. 18, 2019, according to an official statement.

The average annual simple and compound interest rates of the 364-day bonds were 25.05 percent, the ministry added.

According to the domestic borrowing strategy, the ministry has projected 21.9 billion liras (around $3.4 billion) of borrowing from the market through auctions in the September-November period.

Sept. 18’s auction was second out of a total 11 planned auctions on the ministry's issuance calendar for the three-month period.