Treasury Sells Bonds In Two Auctions

ANKARA - Treasury conducted two auctions on Tuesday to sell state notes with floating interest payment in every three months and 427-day discounted bonds.
The total nominal bid had been 2 quadrillion 812.1 trillion Turkish liras (TL). The nominal sale was 2 quadrillion 625 trillion TL and the net sale was 2 quadrillion 685.8 trillion TL.
The period interest rate of these papers is 7.42 percent and composite interest rate is 24.8 percent. Value date is January 21, 2004 and maturity is January 18, 2006. The first coupon payment will be made on April 21, 2004.
Meanwhile, Treasury sold 2 quadrillion 285.8 trillion TL nominal-valued 427-day discounted state notes.
The total nominal bid had been 3 quadrillion 138.9 trillion TL and the net sale was 1 quadrillion 762.7 trillion TL.
Annual simple interest rate is 25.30 percent and composite interest rate is 24.8 percent. Value date is January 21, 2004 and settlement is March 23, 2005.
(MS-AY) 20.01.2004