The Turkish Treasury borrowed 11.2 billion Turkish liras ($1.6 billion) from domestic markets on Tuesday, said an official statement.

The Treasury and Finance Ministry announced that three-year CPI-indexed government bonds (fourth issue, semiannually) were sold in an auction.

The government bonds will be settled on Wednesday and mature on May 3, 2023. The total tender amounted to 26.2 billion Turkish liras ($3.7 million) with a 42.7% accepted/tendered rate.

The Treasury said the term rate of 1,106-day government bonds was accepted at 0.99%, while the annual simple and compound interest rates were both 1.99%.

Read more: Turkish Treasury borrows $1.6B through auction