Turkish Treasury sells €818mn in 5-year bonds, will hold two more auctions on Tuesday

By bne IntelliNews November 18, 2014

The Treasury said on November 17 that it sold TRY2.28bn (€818mn) worth of 5-year fixed coupon bonds in an auction at an annual compound yield of 8.26% (market consensus estimate: 8.29%).

Demand for the paper was TRY9.56bn and the Treasury sold TRY 1.69bn of the bond to public institutions and primary dealers.

The authority plans two more auctions on November 18 for 2-year fixed coupon bonds and 10-year fixed coupon bonds on November 18 ahead of its TRY4.74bn domestic debt redemption scheduled for November 19.

The Treasury plans to borrow TRY5.5bn in November against its debt redemption of TRY5.7bn.

Turkish Treasury's Domestic Borrowing Programme
Redemptions    
(TRY mn) Market Public Total
05-Nov  95  68  163
12-Nov  269  13  282
19-Nov  3.635  1.104  4.740
26-Nov  362  185  546
Nov Total  4.362  1.370  5.732
Dec Total  982  140  1.122
Jan Total  10.360  1.863  12.223
Auctions      
17-Nov 5-year re-open fixed coupon
18-Nov 2-year new issue fixed coupon
18-Nov 10-year re-open fixed coupon
Planned Borrowing (TRY bn)  
Nov 5,5    
Dec 1,2    
Jan 10,8    
Source: treasury    
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