The Turkish Treasury borrowed nearly 3.8 billion Turkish liras ($660 million) from domestic markets on Tuesday.
The Treasury and Finance Ministry said 2.74 billion Turkish liras ($480 million) in 13-months zero coupon government bonds — new issuance — were sold in the first auction.
The government bonds will be settled on Wednesday and mature on Oct. 7, 2020.
The total tender amounted to 4.7 billion Turkish liras ($820 million) with a 58.3% accepted/tendered rate.
The Treasury said the term rate of 385-day government bonds was accepted at 16.12%, while the annual simple and compound interest rates were 15.24% and 15.18%, respectively.
In the second auction Tuesday, the Treasury issued six-year Floating Rate Note bonds (semiannually, re-open) totaling 1 billion Turkish liras ($170 million).
The bonds will be settled on Wednesday with a maturity date of Aug., 6, 2025.
According to the ministry, the total tender in the second auction amounted to 1.3 billion Turkish liras ($230 million), with a 77.8% accepted/tendered rate.
The term rate of 2,149-day government bonds was accepted at 10.74% of the periodic interest rate.