Turkey's Treasury announces Aug 17-20 borrowing plan with four reissues, two direct sales
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Turkey’s Treasury and Finance Ministry announces a domestic borrowing program for Aug 17–20. Four government bond reissues will be held on Aug 17 and Aug 18, followed by direct sales of a one-year dollar-denominated government bond and a one-year dollar-denominated lease certificate on Aug 20.
Aug 17 Auctions
The first two reissues are set for Monday, Aug 17. The Treasury will reopen a 3-year (1,232-day) floating-rate government bond with semiannual coupon payments. It will also reissue a 4-year (1,414-day) bond indexed to the Turkish lira overnight reference rate, also paying every six months.
Aug 18 Reissues
Two more reissues are scheduled for Tuesday, Aug 18. One is a 4-year (1,358-day) CPI-indexed government bond with semiannual coupons. The other is a 9-year (3,304-day) fixed-coupon government bond, also paying every six months.
Dollar Sales
The borrowing week closes Thursday, Aug 20, with two direct sales. A 1-year (364-day) dollar-denominated government bond with semiannual coupons will be sold directly. A 1-year (364-day) dollar-denominated lease certificate with semiannual rental payments will also be offered.
What's Next
The first two reissues are set for Aug 17. It remains unclear whether the announced schedule will meet the Treasury’s borrowing need for the week.
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Turkey's Treasury announces Aug 17-20 borrowing plan with four reissues, two direct sales
