Turkish Treasury borrows €277mn through 7-month bills

By bne IntelliNews May 18, 2015

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
(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
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      

Related Articles

Professor says climate change putting Turkey at risk of becoming a “disease-prone desert”

Turkey is at risk of becoming a “disease-prone desert” with water resources and forests disappearing, Hurriyet Daily News reported Professor Mikdat Kadioglu from Istanbul Technical University’s ... more

Turkey’s lira and shares start moving sideways as significance of early elections is debated

The strongly positive initial reaction given by markets to April 18’s surprise announcement of snap elections in ... more

Turkish lira’s chronic weakness credit negative for Turkey’s sovereign rating says Moody’s

The chronic weakness of the Turkish lira (TRY) is credit negative for Turkey’s sovereign debt rating and poses ... more