Turkish Treasury borrows nearly $1 bln through auctions

ANKARA

The Turkish Treasury borrowed around 8.36 billion Turkish liras ($1 billion) from domestic markets, according to an official statement on June 22. 

The Treasury and Finance Ministry announced that 3.35 billion Turkish liras ($400 million) in four-year fixed coupon rate government bonds were sold on Monday.

The total tender amounted to 5.24 billion Turkish liras ($6.2 million), with a 63.9% accepted/tendered rate.

The Treasury said the term rate of the 1,589-day government bonds was accepted at 9.04%, while the annual simple and compound interest rates were 18.09% and 18.90%, respectively.

The Treasury bills will be settled on Wednesday and mature on Oct. 1, 2025.

In a second auction, the Treasury issued a five-year Turkish lira overnight reference rate (TLREF)-indexed government bonds – the first issue, quarterly – totaling 5 billion Turkish liras ($600 million).

According to the ministry, the total tender in the second auction amounted to 7.85 billion Turkish liras ($936 million), with a 63.8% accepted/tendered rate.

The term rate of the 1,911-day government bonds was accepted at 4.99% of the periodic interest rate, while the annual simple and compound interest rates were 19.95% and 21.5%, respectively.

The bills will be settled on Wednesday and mature on Aug. 19, 2026.