Treasury borrows $635 mln through auctions
ANKARA- Anadolu Agency
The Turkish Treasury borrowed 4.3 billion Turkish liras ($635 million) from the domestic market in two auctions held on July 21.
The Treasury and Finance Ministry announced that some 1.5 billion Turkish liras ($226 million) in 13-month zero coupon bonds (new issuance) were up for auction due to be settled on Wednesday, July 22, and mature on Aug. 18, 2021.
The total tender for the securities was 4.7 billion Turkish liras ($686 million) with a 32.9% accepted/tendered rate.
According to the official statement, the term rate of 392-day government bonds was accepted at 10.3%, while the annual simple and compound interest rates were 9.57% and 9.53%, respectively.
In the second auction, the Treasury issued four-year Turkish lira overnight reference rate (TLREF)-indexed government bonds - new issuance, quarterly - totaling 2.8 billion Turkish liras ($409 million).
The government bonds will be settled on Wednesday, July 22 with a maturity date of July 17, 2024.
According to the ministry, the total tender in the second auction amounted to 6.1 billion Turkish liras ($900 million), with a 45.6% accepted/tendered rate.
The term rate of 1,456-day government bonds was accepted at 2.57%, while the annual simple and compound interest rates were 10.28% and 10.69%, respectively.