Turkish Treasury borrows €324mn via 14-month bond

By bne IntelliNews February 17, 2015

Turkey’s Treasury said it borrowed TRY904mn (€324mn) on February 17 at an auction it held for 420-day zero-coupon bonds (new issue), ahead of its TRY2.1bn of domestic debt redemption on February 18.

Demand for the paper amounted to TRY2.7bn. The Treasury sold TRY301mn of the 14-month paper at an annual compound yield of 8.39% (market consensus estimate: 8.48%). Sales to primary dealers amounted to TRY603mn. This was the Treasury’s last auction scheduled for February.

This week, the Treasury said it was planning a lease certificate issue. TRY-denominated lease certificates will be issued on February 18.

Turkish Treasury's Domestic Borrowing Programme
Redemptions      
(TRY mn) Market Public Total
04-Feb  375  84  459
11-Feb  11,339  1,470  12,809
18-Feb  2,054  61  2,115
25-Feb  597  107  704
Feb Total  14,365  1,722  16,088
Mar Total  4,702  667  5,369
Apr Total  9,711  3,472  13,183
Auctions      
09-Feb 5-year new issue fixed-coupon
09-Feb 10-year re-open CPI-indexed
10-Feb 2-year re-open fixed-coupon
10-Feb 6-year re-open floating-coupon
10-Feb 10-year re-open fixed-coupon
17-Feb 14-month new issue zero-coupon
Planned Borrowing (TRY bn)      
Feb 14    
Mar 4.5    
Apr 11.5    
Source: treasury      

Related Articles

Turkey reportedly set to raise debt limit for first time in 8 years as Ankara fuels credit

Turkey is preparing to raise its debt limit for the first time since 2009 after first-half borrowing left the Treasury near its legal ceiling, Bloomberg reported on July 25. Citing a person with ... more

Four Turkish companies reportedly consider IPOs in London or Istanbul

Turkey’s Enerjisa, Memorial Health Group, Tab Gida and Baskent Gaz are considering public offerings in London or Istanbul, unnamed sources told Bloomberg on July 19. Enerjisa, a 50:50 JV ... more

Turkey bars entry to thousands from more than 140 nations over suspected IS ties

Turkey has arrested and deported thousands of people suspected of having links to the Islamic State group according to a Turkish interior ministry report entitled “Turkey’s Fight ... more

Dismiss