Turkish Treasury borrows $74M from domestic markets

The Turkish Treasury borrowed 547.5 billion Turkish liras ($74 million) from domestic markets through lease certificates on Tuesday.

The Treasury and Finance Ministry issued the four-year fixed rent rate lease certificates to the banks through direct sale method in order to increase the domestic savings, broaden the investor base and diversify the borrowing instruments.

The 1,456-day lease certificates, with a periodic rent rate (six months) of 6.80%, will be settled on Wednesday, while they will mature on Aug. 21, 2024.