Turkish Treasury borrows $1.13B from domestic markets

Ministry holds auction to sell overnight reference rate-based gov’t bonds with 1,169-day maturity, issue lease certificates

Turkey’s Treasury borrowed 7.65 billion Turkish liras (some $1.13 billion) from domestic markets on Tuesday.

Some 6.2 billion Turkish liras (around $915 million) of three-year Turkish lira overnight reference rate (TLREF)-indexed bonds second issuance to be settled on Wednesday and mature on June 21, 2023 were sold in an auction, said the Treasury and Finance Ministry.

The total tender was 7.7 billion Turkish liras (some $1.14 billion), with an 80.3% accepted/tendered rate.

The term rate of the 1,169-day Treasury bills was accepted at 2.62%, while the average annual simple and compound interest rates were 10.47% and 10.89%, respectively.

The Treasury also issued lease certificates worth 1.47 billion Turkish liras ($217 million) on Tuesday.

The certificates will be settled on Wednesday, while their maturity day is April 2, 2025.

Anadolu Agency

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