Treasury Borrows Net 5.2 Bn New Turkish Liras

ANKARA - Turkish Treasury has borrowed nearly 5.2 billion New Turkish liras (YTL) through two separate bond auctions on Tuesday.
In the first auction, Treasury sold nominal 1,931.7 million YTL nominal-valued 91-day discounted reference bonds.
The total nominal-valued bids for these bonds had been 3,278.9 million YTL and the net sale was 1,856 million YTL.
The annual simple interest rate is 16.31 percent and the annual composite interest rate is 17.33 percent. The maturity of these bonds is May 11th, 2005.
Meanwhile, in the second auction, Treasury sold nominal 1,293.4 million YTL nominal-valued 595-day discounted state notes.
The total nominal-valued bids for these state notes had been 4,563.1 million YTL and the net sale was 992.1 million YTL.
The annual simple interest rate is 18.58 percent and the annual composite interest rate is 17.62 percent. The maturity of these state notes is September 27th, 2006.
Meanwhile, Treasury will repay 5,535 million YTL in domestic debt tomorrow.