Turkish Treasury borrows $471M through auction

By Aysu Bicer

ANKARA (AA) - The Turkish Treasury borrowed 3.2 billion Turkish liras ($471 million) from domestic markets on Monday, said an official statement.

The Treasury and Finance Ministry announced the fixed coupon bonds (semiannually, reopen) were sold in an auction.

The government bonds will be settled on Wednesday and mature on May 5, 2022.

The total tender amounted to 6.9 billion Turkish liras ($1 billion) with a 46.8% accepted/tendered rate.

The interest rate of the 693-day government bonds was accepted at a 4.51% term rate, while the annual simple and compound interest rates were 9.02% and 9.22%, respectively.