Turkish Treasury borrows nearly $400M through auction

The Turkish Treasury borrowed around 1.55 billion Turkish liras ($393 million) from domestic markets, according to an official statement Tuesday.

The Treasury Undersecretariat announced that an auction was held for five-year fixed coupon bonds -- semiannually, re-open, and fourth issue.

The government bonds will be settled on Wednesday and mature on Aug. 17, 2022, with a total tender of nearly 3.43 billion Turkish liras ($866 million) and a 45.4 percent accepted/tendered rate.

The interest rate of the 5-year government bonds was accepted at a 6.69 percent term rate, with annual simple and compound interest rates of 13.38 and 13.82 percent, respectively.