Turkish Treasury borrows $966M through auctions
The Turkish Treasury borrowed some 5.6 billion Turkish liras ($966 million) from domestic markets, according to an official statement on June 11.
The total tender for the bonds, which will be settled on June 12 and mature on April 21, 2021, was 4.36 billion Turkish liras ($752 million) with a 80.7% accepted/tendered rate.
The term rate of the 679-day bonds was accepted at a 10.83% term rate, as the annual simple and compound interest rates were 21.66% and 22.83%, respectively.
The Treasury borrowed nearly 2.1 billion Turkish liras ($360 million) in the second auction by issuing six-year floating rate notes (semiannually, re-open, sixth issue) to be settled on Wednesday and mature on August 6, 2025.
The total tender for the bonds was 2.61 billion Turkish liras ($450 million), with a 80.1% accepted/tendered rate.
The ministry said the term rate of 2,247-day bonds was accepted at 9.95%, while the annual simple and compound interest rates were 19.90% and 20.89%, respectively.
On June 10, the Treasury also held two auctions to borrow some 7.4 billion Turkish liras ($1.3 billion) from domestic markets.