The Treasury held an auction on May 18 for 7-month bills and it borrowed TRY813mn (€277mn) at an annual compound yield of 9.88%.
Demand for the paper stood at TRY2.63bn while the borrowing cost of the Treasury was slightly higher than the market forecast of 9.85%.
This was the last auction the Treasury planned for May. The authority initially projected TRY9bn of domestic borrowing in May against a total domestic debt redemption of TRY11.9bn.
| Turkish Treasury's Domestic Borrowing Programme | |||
| Redemptions | |||
| (TRY mn) | Market | Public | Total |
| 06-May | 99 | 71 | 1,127 |
| 13-May | 9,380 | 154 | 9,534 |
| 20-May | 1,130 | 544 | 1,674 |
| 27-May | 359 | 198 | 557 |
| May Total | 10,969 | 966 | 11,935 |
| June Total | 7,941 | 1,542 | 9,483 |
| July Total | 5,690 | 1,215 | 6,905 |
| Auctions | |||
| 11-May | 5-year / 1,729-day | re-open | fixed-coupon |
| 11-May | 10-year / 3,626-day | re-open | CPI-indexed |
| 12-May | 2-year / 553-day | re-open | fixed-coupon |
| 12-May | 7-year / 2,534-day | re-open | floating-coupon |
| 12-May | 10-year / 3,591-day | re-open | fixed-coupon |
| 18-May | 7-month / 210-day | re-open | zero-coupon |
| Planned Borrowing (TRY bn) | |||
| May | 9.0 | ||
| June | 8.5 | ||
| July | 6.0 | ||
| Source: treasury | |||
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