By Muhammed Ali Gurtas
ANKARA (AA) – The Turkish Treasury borrowed some 3.3 billion Turkish liras ($515 million) from domestic markets, according to an official statement Tuesday.
The auction was held for 2-year fixed coupon bonds — semiannually, re-open, second issue — the Treasury and Finance Ministry announced.
The government bonds will be settled on Wednesday and mature on August 12, 2020, while the total tender was around 5.9 billion Turkish liras ($915 million) with a 56.3-percent accepted/tendered rate.
The interest rate of the 700-day bonds was accepted at a 11.85-percent term rate, with annual simple and compound interest rates of 23.71 and 25.11 percent, respectively.
According to the domestic borrowing strategy, the ministry has projected 21.9 billion liras (around $3.33 billion) of domestic borrowing from the market through auctions and there will be no planned external borrowing in the September-November period.