The Turkish Treasury borrowed 3.8 billion Turkish liras ($486 million) from domestic markets on Tuesday, according to an official statement.

The Treasury and Finance Ministry announced that some 3.3 billion Turkish liras ($420 million) ten-year fixed coupon bond — semiannually, second-issuance — was sold in an auction.

The Treasury bill will be settled on Wednesday and mature on Nov. 13, 2030. The total tender amounted to 4.7 billion Turkish liras ($595million) with a 70.7% accepted/tendered rate.

The term rate of 3626-day government bonds was accepted at 6.39%, while the annual simple and compound interest rates were 12.78% and 13.19%, respectively.

It also issued TRY denominated fixed rent rate lease certificates worth 519.7 million Turkish liras ($66 million).

The certificates will be settled on Wednesday with a maturity date of Dec. 3, 2025.

The Treasury has projected to hold 18 bond auctions and direct sale of lease certificates from December to February.

According to the ministry’s borrowing strategy, the Treasury will borrow 94.9 billion Turkish liras ($12.2 billion) from domestic markets in December-February while there will be 17.6 billion Turkish liras ($2.26 billion) of external borrowing just in December.

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