By Muhammed Ali Gurtas
ANKARA (AA) - The Turkish Treasury borrowed some 3.22 billion Turkish liras ($552 million) from domestic markets, according to an official statement Monday.
The Treasury and Finance Ministry said the auction was held for two-year fixed coupon bonds (semiannually, new issuance) to be settled on Wednesday and mature on April 21, 2021.
The total tender for the bonds was 4.63 billion Turkish liras ($794 million) with a 69.5% accepted/tendered rate.
The interest rate of the 728-day bonds was accepted at a 10.54% term rate, as the annual simple and compound interest rates were 21.07% and 22.18%, respectively.
According to the ministry's borrowing strategy, the Treasury projected to hold nine bond-auctions and a direct sale of lease certificate in the April-June period to borrow some $5.8 billion from domestic markets.