Turkish Treasury plans €433mn domestic borrowing in December

By bne IntelliNews December 1, 2014

Turkey’s Treasury on November 28 announced its borrowing programme for December-February.

Accordingly, the Treasury plans to borrow TRY1.2bn (€433mn) from domestic markets in December against debt redemptions of TRY1.1bn. There will be only one debt auction this month, the Treasury said in a statement on its website. The heaviest debt redemption of the month is scheduled for December 24 when the Treasury will repay a total of TRY543mn of debt (of which TRY473mn is to the markets).

The Treasury will hold an auction on December 16 for 12-month zero-coupon bonds (new issue).

Borrowing in January is planned to be TRY10.8bn against redemptions of TRY12.3bn while the Treasury plans TRY14.4bn domestic borrowing in February against redemptions of TRY16.1bn.

The Treasury announced on October 31 its financing programme for 2015 which foresaw a total debt redemption of TRY128.8bn next year, including TRY107.3bn domestic debt redemption and TRY21.5bn external debt redemption. The Treasury plans $5.1bn external financing in 2015 while it plans to borrow a total of TRY88bn from domestic markets.

Turkish Treasury's Domestic Borrowing Programme

Redemptions

 

 

 

(TRY mn)

Market

Public

Total

17-Dec

 356

 70

 426

24-Dec

 473

 70

 543

31-Dec

 153

 -  

 153

Dec Total

 982

 140

 1,122

Jan Total

 10,400

 1,917

 12,317

Feb Total

 14,352

 1,709

 16,061

Auctions

 

 

 

16-Dec

12-month

new issue

zero-coupon

Planned Borrowing (TRY bn)

 

 

 

Dec

1.2

 

 

Jan

10.8

 

 

Feb

14.4

 

 

Source: treasury

 

 

 

 

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