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).
Turkish President Recep Tayyip Erdogan has warned the Iraqi Kurds that it is in their interests to call off their planned September 25 independence referendum because it “may lead to a process that ... more
Addressing the UN General Assembly, Armenian President Serzh Sarkisian on September 19 warned that Yerevan may be set to declare two protocols aimed at normalising relations with Turkey "null and ... more
Russia’s Rosneft is exploring the possibility of building a 30bn cubic metre (bcm) pipeline that would from 2020 deliver natural gas supplies from the Iraqi Kurdistan region to Turkey and ... more