By Cansu Dikme
ANKARA (AA) - The Turkish Treasury borrowed 3.3 billion Turkish liras ($410 million) from domestic markets on Tuesday, according to an official statement.
The Treasury and Finance Ministry announced that some 1.8 billion Turkish liras ($225 million) two-year fixed coupon bond -- semiannually, new-issuance -- was sold in the first auction.
The Treasury bill will be settled on Wednesday and mature on Nov. 9, 2022. The total tender amounted to 4.8 billion Turkish liras ($590 million) with a 38.4% accepted/tendered rate.
The term rate of 728-day government bonds was accepted at 7.10%, while the annual simple and compound interest rates were 14.20% and 14.70%, respectively.
In the second auction on Tuesday, the Treasury issued five-year Fixed Coupon Bond -- semiannually, second-issue -- totaling 1.5 billion Turkish liras (nearly $185 million).
The bonds will be settled on Wednesday with a maturity date of Oct. 1, 2025.
According to the ministry, the total tender in the second auction amounted to 4.2 billion Turkish liras ($520 million), with a 34.6% accepted/tendered rate.
The term rate of 1,785-day government bonds was accepted at 6.63% of the periodic interest rate, while the annual simple and compound interest rates were 13.27% and 13.71%, respectively.