Turkish Treasury borrows $727M from domestic markets

By Aysu Bicer

ANKARA (AA) - The Turkish Treasury borrowed 4.8 billion Turkish liras (nearly $727 million) from domestic markets on Monday, the Treasury and Finance Ministry announced.

The ministry re-issued a fixed coupon government bond with a maturity of two years (574 days) and 6.9% coupon payment every six months.

Simple interest in the tender was 10.65%, and compound interest was 10.94%.

The total tender amounted to 6.3 billion Turkish liras ($985.4 million), with a 75.7% accepted/tendered rate.