Turkish Treasury borrows nearly $687M through auction

By Gokhan Ergocun

ANKARA (AA) - The Turkish Treasury borrowed 2.65 billion Turkish liras ($686.9 million) from domestic markets on Tuesday, according to an official statement.

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

The government bonds will be settled on Wednesday and mature on Jan. 18, 2023.

According to the Treasury, the total tender amounted to 4.83 billion Turkish liras ($1.25 billion), with a 55 percent accepted/tendered rate.

The Treasury said the interest rate of 1,771-day bonds was accepted at a 6.44-percent term rate, while annual simple and compound interest rates stood at 12.88 and 13.30 percent, respectively.