Turkish Treasury borrows EUR 360mn through 12-month bond.

By bne IntelliNews November 13, 2013

The Treasury held an auction on Tuesday for 12-month (371 days) zero coupon bond (re-open) through which it borrowed a total of TRY 994.5mn (EUR 360mn) at an annual compound of 8.87% (market consensus estimate: 8.87%).

Demand for the paper stood at TRY 3.355bn. The Treasury sold TRY 454.1mn of the bond in the auction and the sales to primary dealers amounted to TRY 540.4mn.

The Treasury plans six debt auctions this month (two more auctions on November 18 and three more on November 19). The heftiest domestic debt redemption is on November 20 when the Treasury will redeem TRY 13.98bn of which TRY 11.83 is to the markets.

The Treasury plans a total domestic borrowing of TRY 11.6bn in November against its domestic debt redemption of TRY 14.4bn.

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