Update: Turkey Sells Try579.6m Of 4-yr Fıxed-coupon Bond
Turkey said Tuesday it sold 579.6 million Turkish lira ($376.4 million) of a four-year fixed-coupon bond, with coupon payments every six months, at an auction.
Bids totaled TRY976.5 million with nominal sales totaling TRY565.9 million. The average compound interest was 10.82%the average price was TRY102,419.
In the non-competitive fixed-price sales before the auctions, or ROT sales, the treasury sold TRY432 million of the four-year, fixed-coupon bond to primary dealer banks,TRY100 million to public institutions.
In sum, including the ROT sales, the treasury's borrowing totaled TRY1.1 billion Tuesday.
Turkey's treasury previously said it would borrow a total of TRY54.5 billion from the domestic market in the first three months of 2010.
(YC-YC-E-ENG)
