Treasury Borrows Net 1.07 Bn New Turkish Liras

ANKARA - Turkish Treasury has borrowed nearly 1.07 billion New Turkish liras (YTL) through two separate bond auctions on Tuesday. (One dollar equals 1.30 YTL).
In the first auction, Treasury sold nominal 305.1 million YTL 3-year state notes denominated in U.S. dollar.
The total nominal-valued bids for these bonds had been 679.5 million YTL and the net sale was 302.4 million YTL.
The annual composite interest rate is 5.06 percent. The maturity of these state notes is February 13th, 2008.
Meanwhile, in the second auction, Treasury sold nominal 765.1 million YTL 5-year debenture bonds denominated in YTL.
The total nominal-valued bids for these state notes had been 4,563.1 million YTL and the net sale was 2,273.7 million YTL.
The annual composite interest rate is 15.15 percent. The maturity of these state notes is February 10th, 2010.
Meanwhile, Treasury will repay 2,687 million YTL in domestic debt this week.