Treasury borrows over $340 million through auction

Treasury borrows over $340 million through auction

ANKARA-Anadolu Agency
Treasury borrows over $340 million through auction

The Turkish Treasury borrowed nearly 2 billion Turkish liras (around $340 million) from domestic markets, the Treasury and Finance Ministry announced on Jan. 21.

The auction was held for 3-month zero coupon bonds -- new issuance -- to be settled on Jan. 22 and mature on April 22, according to an official statement.

The total tender amounted to 6.67 billion Turkish liras ($1.12 billion), with a 30 percent accepted/tendered rate.

The term rate of the 91-day Treasury bills was accepted at 2.32 percent while the average annual simple and compound interest rates were 9.26 percent and 9.59 percent, respectively.

According to the domestic borrowing strategy, the ministry has projected some 61.6 billion Turkish liras ($10.7 billion) of borrowing from the market through auctions in the December 2019-February 2020 period.

Tuesday's auction was third out of a total 19 planned auctions on the ministry's issuance calendar for the three-month period.