Turkish Treasury to sell 13-month bond this week.

By bne IntelliNews February 17, 2014

The Treasury will hold an auction on February 18 to sell 13-month zero coupon bond (re-open) ahead of a domestic debt redemption of TRY 643mn on February 19.

The Treasury plans five more auctions this month when it hopes to borrow a total of TRY 13.7bn against its domestic redemption of TRY 15.6bn.

It will hold auctions for 5-year fixed coupon, 7-year floating coupon bonds on February 24 and it will sell 2-year fixed coupon (new issue), 5-year CPI-indexed (new issue), and 10-year fixed coupon bonds on February 25.

Last week, the Treasury raised USD 1.5bn in 2045 Eurobond issue. The bond has a coupon of 6.625% and a yield to investor of 6.70% ant it attracted an orderbook of more than four times the actual issue size. As part of its 2014, the Treasury has already borrowed a total of USD 4.64bn, completing more than 70% of the external borrowing programme.

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