Turkish Treasury borrows $435M through auction

Treasury sells around $435M in 5-year floating rate notes to domestic markets, says official statement

By Muhammed Ali Gurtas

ANKARA (AA) - The Turkish Treasury borrowed 1.63 billion Turkish liras (some $435 million) from the domestic market in an auction held Tuesday, said the institution.

Turkey's Treasury Undersecretariat announced that the securities up for auction were five-year floating rate notes (semiannually, re-open) which will be settled tomorrow, March 15, and mature on April 20, 2022.

The Treasury said that total tender for the securities, which was 2.84 billion liras (around $759 million), was almost twice the actual issue size of 1.63 billion liras (some $435 million), with a 57.5 percent accepted/tendered rate.

According to the official statement, the interest rate of the floating rate notes was accepted as 4.95 percent term rate.

Kaynak:

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