Turkey's plan to pay back debt through bond auctions

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ANKARA
Published 14.07.2014 22:25
Updated 14.07.2014 22:27
Turkey's plan to pay back debt through bond auctions

Turkey's Treasury has held two bond auctions worth 4.7 billion Turkish liras ($2.2 billion). The auction on Monday came as the Treasury continued with plans to pay back 44.2 billion Turkish liras ($21 billion) of domestic debt for the period from July to September 2014.

The Treasury said in a statement last month that domestic borrowing for the same period last year was 30.5 billion Turkish liras ($15 billion). Turkey's Treasury says it will hold three more bond auctions on Tuesday.

Tuesday´s first auction will sell a two-year fixed coupon bond with an issue date of July 16, maturing July 13, 2016. In the second auction, a ten-year fixed coupon bond with an issue date of July 16 and maturing March 20, 2024, will be sold. The third auction on the same day will sell a ten-year CPI-indexed bond with an issue date of July 16, maturing May 8, 2024.

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