Turkish Treasury Borrows Some $1.1B Through Auctions

The Turkish Treasury borrowed around 9.13 billion Turkish liras ($1.1 billion) from domestic markets, an official statement said on Tuesday.

The Treasury and Finance Ministry announced that some 7.33 billion Turkish liras ($900 million) in four-year fixed coupon rate government bonds – semiannually, reopen, the ninth issue – were sold in the first auction.

The total tender amounted to some 9 billion Turkish liras ($1.11 billion), with an 81.3% accepted/tendered rate.

The Treasury said the term rate of 1,624-day government bonds was accepted at 8.91%, while the annual simple and compound interest rates were 17.83% and 18.62%, respectively.

The Treasury bills will be settled on Wednesday and mature on Oct. 1, 2025.

In the second auction, the Treasury issued seven-year floating rate note – semiannually, reopen, fifth-issue – totaling 1.8 billion Turkish liras ($221.7 million).

According to the ministry, the total tender in the second auction amounted to 2.61 billion Turkish liras ($322.3 million), with a 68.9% accepted/tendered rate.

The term rate of 2,401-day government bonds was accepted at 7.28% of the periodic interest rate, while the annual simple and compound interest rates were 14.57% and 15.1%, respectively.

The bills will be settled on Wednesday and mature on Nov. 17, 2027. -