Turkish Treasury borrows nearly $480M through auction

By Tuba Sahin

ANKARA (AA) - The Turkish Treasury borrowed 1.97 billion Turkish liras ($480 million) from domestic markets on Tuesday, according to an official statement.

The Treasury Undersecretariat reported that an auction was held for 10-year fixed rate notes (semiannually, re-open, second issue).

The government bonds will be settled on Wednesday and mature on March 8, 2028.

According to the Treasury, the total tender amounted to 3.07 billion Turkish liras ($750 billion), with a 64.2 percent accepted/tendered rate.

The Treasury said the interest rate of 3,619-day bonds was accepted at a 6.40-percent term rate, while annual simple and compound interest rates stood at 12.80 and 13.21 percent, respectively.