Turkey borrows 29.8 billion lira in eight-year bond sale

Turkey’s Treasury raised 29.8 billion lira in an auction of government bonds.

The sale involved an eight-year bond being reissued, meaning the government offered the same bond again.

The bond pays a fixed 13.85% coupon every six months.

Investors submitted bids with a total nominal value of 30.5 billion lira, and the auction recorded a 36.61% compound interest rate.

The Treasury sold 20.72 billion lira in nominal value, with net sales of 17.83 billion lira.

The government accepted all 8 billion lira offered by public institutions and also sold 4 billion lira to market makers.