Turkey: Treasury borrows nearly $270M through auction

By Gokhan Ergocun</p> <p>ISTANBUL (AA) – The Turkish Treasury has borrowed over 1.43 billion Turkish liras (some $268 million) from domestic markets, an official statement said on Tuesday. </p> <p>An auction was held for two-year fixed rate bonds (reopen, sixth issuance), the Treasury and Finance Ministry announced. </p> <p>The government bonds will be settled on Wednesday and mature on Aug. 8, 2020, while the total tender was over 3.2 billion Turkish liras ($596 million), with a 44.9-percent accepted/tendered rate. </p> <p>The interest rate of the 567-day bonds was accepted at a 8.66-percent term rate, with annual simple and compound interest rates of 17.32 and 18.06 percent, respectively.</p> <p>