Turkish Treasury borrows $234M through auction

By Dilara Zengin

ANKARA (AA) - The Turkish Treasury borrowed 844 million Turkish liras (some $233.7 million) from the domestic market in an auction held on Tuesday, said the institution.

Turkey's Treasury Undersecretariat announced that the securities up for auction were 13-month zero coupon bond (re-open) which will be settled March 22 and mature on 18 April 2018.

The Treasury said that total tender for the securities, which was 2.12 billion Turkish liras (around $587 million), was a 39.7 percent accepted/tendered rate.

According to the official statement, the interest rate of the zero coupon bond was accepted at a 12.62 percent term rate.