The Turkish Treasury borrowed 4.08 billion Turkish liras ($749 million) from domestic markets, according to an official statement Tuesday.
The first auction was held for one-year zero coupon bonds (new issuance) totaling 1.84 billion Turkish liras (nearly $338 million), the Treasury and Finance Ministry announced.
The government bonds will be settled on Wednesday and mature on Jan. 15, 2020, while the total tender was 2.56 billion Turkish liras ($470 million) with a 71.9-percent accepted/tendered rate.
The interest rate of the 364-day bonds was accepted at a 18.98-percent term rate, with the same annual simple and compound interest rates.
In a second auction on Tuesday, the Treasury borrowed 2.24 billion Turkish liras ($411 million) by issuing five-year CPI-indexed government bonds (semiannually, new issuance), which will be settled on Wednesday and mature on Jan. 10, 2024.
The total tender for the bonds was 3.64 billion Turkish liras ($669 million), with a 61.4 percent accepted/tendered rate.
The ministry said the term rate of 1,820-day bonds was accepted at 2.00 percent, while the annual simple and compound interest rates were 3.99 and 4.03 percent, respectively.
