Turkey’s Treasury borrowed over 4 billion Turkish liras (around $670 million) from domestic markets, the Treasury and Finance Ministry said Tuesday.

The auction was held for two-year Turkish lira overnight reference rate (TLREF)-indexed bonds — new issuance — to be settled on Wednesday and mature on Jan. 1, 2022, it said in a statement.

The total tender was 14 billion Turkish liras (some $2.4 billion), with a 28.9% accepted/tendered rate.

The term rate of the 728-day Treasury bills was accepted at 2.46% while the average annual simple and compound interest rates were 9.84% and 10.21%, respectively.

Read more: Turkish Treasury borrows over $670M through auction