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
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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