The Treasury has successfully borrowed a total of 27.9 billion Turkish Lira through two bond auctions held recently. The auctions, in addition to a pre-auction sale of 14.5 billion TL in Treasury Bills, resulted in a total sale of 27.9 billion TL.
In the bond auctions, the Treasury issued 6-year (2,275 days) variable-rate bonds and 10-year (3,493 days) fixed-coupon bonds.
Variable-Rate Bond Auction Details:
- Net sales: 4.6117 billion TL
- Nominal amount of sales: 4.685 billion TL
- Total bids submitted by investors: 13.9737 billion TL
The compound interest rates for the variable-rate bonds in the auction ranged from the lowest at 20.62%, the average at 20.75%, to the highest at 20.81%.
The minimum price for the bond was 98,168 TL, while the average price settled at 98,435 TL.
The bonds sold in this auction are set to be issued on March 13, 2024. The maturity date for these semi-annual coupon payments bonds is set for June 5, 2030.
Fixed-Coupon Bond Auction Details:
- Net sales: 8.8 billion TL
- Nominal amount of sales: 7.752 billion TL
- Total bids submitted by investors: 29.461 billion TL
In the fixed-coupon bond auction, the compound interest rates ranged from the lowest at 26.61%, the average at 26.94%, to the highest at 27.04%. The simple interest average was at 25.34%.
The minimum price for the fixed-coupon bonds was 113,187 TL, and the average price settled at 113,519 TL.
Similar to the variable-rate bonds, the fixed-coupon bonds will be issued on March 13, 2024, with the maturity date set for October 5, 2033.
These bond auctions contribute to the Treasury’s efforts to manage the country’s financing needs and ensure liquidity in the financial markets.
source: tr.investing.com/ prepared by Melisa Beğiç