Turkish Treasury borrows nearly $237M through auction

By Muhammed Ali Gurtas

ANKARA (AA) - The Turkish Treasury borrowed around 900 million Turkish liras ($237 million) from domestic markets, according to an official statement on Tuesday.

The Treasury Undersecretariat announced that an auction was held for twelve-month zero coupon bonds -- new issuance.

The government bonds will be settled on Wednesday and mature on Jan. 16, 2019, with a total tender of around 1.65 billion Turkish liras ($433 million) and a 54.7 percent accepted/tendered rate.

The interest rate of the twelve-month government bonds was accepted at a 13.53 percent term rate, with the same annual simple and compound interest rates of 13.53 percent.