Turkish Treasury borrows EUR 2.1bn in two debt auctions.

By bne IntelliNews August 12, 2013

Turkey’s Treasury borrowed a total TRY 5.27bn (EUR 2.07bn) in two debts auctions on Monday.

The Treasury sold TRY 385mn of 5-year fixed coupon bond (re-open) at a yield of 9.04%, higher than the market forecast of 8.90%. Sales to public institutions and marker makers amounted to TRY 1.14bn. Demand for the paper was TRY 2.93bn. The yield of bond was 9.12% at an auction held in July.

The Treasury opened another auction for 10-year CPI-indexed bond (new issuance) on Monday, selling TRY 2.27bn of the paper at a yield of 2.96%, below the market forecast of 3.03%. Non-competitive sales totalled TRY 1.47bn. Demand for the CPI-linker was a strong TRY 10.85bn.

The Treasury will sell 2-year fixed coupon bonds (re-open) and 10-year fixed coupon bonds (re-open) on Tuesday (August 13).

The Treasury projects TRY 14bn (EUR 5.4bn) domestic borrowing (TRY 9.5bn is from the markets) in August against its TRY 16.5bn debt redemption in the month.

The Treasury will hold two more auctions on August 27 for 15-month zero coupon bonds (new issuance) and 7-year floating coupon bonds (re-open).

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