Turkish Treasury To Hold Two Bond Auctions

ANKARA - Turkish Treasury would hold two auctions on Tuesday to sell 154-day and 350-day bonds, sources said on Monday.
Sources said that both 154-day and 350-day bonds would be issued on June 9, 2004.
The 154-day bonds will be repaid on November 10, 2004 and the 350-day bonds will be repaid on May 25, 2005.
The Treasury held its last two auctions on May 25 to sell 168-day bonds denominated in Turkish liras (TL) and 364-day state notes.
In 168-day discounted bond auction, the average interest rate became 28.76 percent. These bonds will be repaid on November 10, 2004.
The total bid had been 3 quadrillion 595.4 trillion TL while the Treasury sold 2 quadrillion 262.8 trillion TL of nominal-valued bonds in this auction. The net sale became 2 quadrillion 13.6 trillion TL.
In the other auction, the total bid had been 4 quadrillion 223.5 trillion TL. The Treasury sold 2 quadrillion 478.0 trillion TL of nominal-valued state notes while the net sale became 1 quadrillion 910.5 trillion TL.
The average interest rate became 29.70 percent in the auction held to sell 364-day discounted state notes denominated in TL.
(BRC-AÖ) 07.06.2004