The Undersecretariat of the Treasury confirmed that it borrowed $2 billion in the issue of the dollar-dominated eurobond, maturing on March 25, 2027, as part of its $6 billion external financing program.
According to the statement released by the Treasury, the institution sold U.S. dollar-denominated bonds in an auction that was more than three times oversubscribed. The statement indicates that 49 percent of the bonds were sold to investors in the United States followed by the U.K. with 26 percent, Turkish investors with 11 percent, other European countries with 11 percent and other regions with 3 percent.
Accordingly, within the framework of its 2017 external borrowing program, the Treasury authorized Barclays, Citigroup, Goldman Sachs and Qatar National Bank on Jan. 18, 2017 for a dollar-denominated bond issue, maturing in 2027. The said issuance was concluded on the same day and the amount secured from bond auction stood at $2 billion, which will be transferred to the Treasury's accounts on Jan. 23, 2017.
The coupon rate of the bond issue is 6 percent with a yield of 6.15 percent, the Treasury noted in the statement. The auction received an order book of more than three times the actual issue size of the bonds from a total of 256 investors.
With this bond sale, $2 billion portion of the $6 billion external financing program planned to be realized in 2017 through the issuance of bonds from international capital markets has been completed.