Turkish Treasury borrows over $690M through auctions

ISTANBUL 

The Turkish Treasury borrowed a total of around 3.97 billion Turkish liras ($694.6 million) from domestic markets on Monday, according to an official statement.

The Treasury and Finance Ministry reported that nearly 3.04 billion Turkish liras ($531.9 million) in two-year fixed coupon government bonds (semiannually, reopen, fifth issue) were sold in an auction.

The government bonds will be settled on Wednesday and mature on April. 21, 2021. The total tender amounted to 5.3 billion Turkish liras ($927.3 million) with a 37.5% accepted/tendered rate.

The Treasury said the term rate of 581-day government bonds was accepted at 7.44%, while the annual simple and compound interest rates were 14.89% and 15.44%, respectively.

In Monday’s second auction, the Treasury issued five-year CPI-indexed government bonds (semiannually, re-open, fourth issue) totaling 933 million Turkish liras ($163.2 million).

The bonds will be settled on Wednesday with a maturity date of June, 5, 2024.

According to the ministry, the total tender in the second auction amounted to 1.63 billion Turkish liras ($285.2 million), with a 57.3% accepted/tendered rate.

The term rate of 1,722-day government bonds was accepted at 1.98%, while the annual simple and compound interest rates were 3.96% and 4%, respectively.

The Treasury will hold two more auctions on Tuesday to borrow from the domestic market.

According to the ministry’s borrowing strategy, the Treasury projects to hold 13 bond-auctions and a direct sale of lease certificates this September-November to borrow some 30.7 billion Turkish liras ($5.2 billion) from domestic markets.
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