Turkish Treasury borrows $902M from domestic markets

By Gokhan Ergocun

ISTANBUL (AA) - The Turkish Treasury borrowed nearly 6.19 billion Turkish liras ($902.3 million) from domestic markets on Tuesday, the Treasury and Finance Ministry said.

Some 5.1 billion Turkish liras ($743.4 million) in five-year CPI-indexed government bonds (re-opened, second issue) were up for auction that will be settled on Wednesday, and mature on June 18, 2025.

The total tender for the government bonds was 9.77 billion Turkish liras ($1.4 billion) with a 56% accepted/tendered rate.

The Treasury said the term rate of 1,806-day government bonds was accepted at 0.77%, while the annual simple and compound interest rates were both 1.55%.

The Treasury also issued lease certificates worth 1.09 billion Turkish liras ($158.8 million) on Tuesday, with the value date of July 6, 2022.