Turkish Treasury Sells Reference Bonds & State Notes

ANKARA - Turkish Treasury sold on Tuesday 91-day reference bonds and 567-day discounted state notes denominated in New Turkish liras (YTL).
The composite interest was 15.72 percent in reference bond auction, and 17.98 percent in the discounted state note auction.
The total bid in both auctions had been 6.2 billion YTL, while the Treasury sold 3.2 billion YTL of nominal-valued bonds and state notes. The net sale was 2.9 billion YTL.
In the 91-day reference bond auction, the total bid had been 3.3 billion YTL, while the Treasury sold 2.2 billion YTL of nominal-valued bonds. The net sale was 2.1 billion YTL. The simple interest rate was 14.89 percent and the composite interest was 15.72 percent. The bonds will be repaid on July 20th, 2005.
On the other hand, the total bid had been 2.9 billion YTL in the 567-day discounted state note auction. The Treasury sold 945.1 million YTL of nominal-valued bonds, while the net sale was 730.5 million YTL. The simple interest rate was 18.86 percent, and the composite interest rate was 17.98 percent. The maturity of these state notes is November 8th, 2006.