According to the news of Hürriyet Daily News, Turkey’s Treasury will redeem a total of 80 billion Turkish Liras (around $13.4 billion) of domestic debt in January, February and March.

The Treasury plans to borrow 73.8 billion liras from the domestic market in the first quarter.

For January, domestic debt redemption is projected at 23.6 billion liras, whereas domestic borrowing is seen at 15 billion liras, the Treasury and Finance Ministry said on Dec. 31 in its domestic borrowing strategy for the first quarter of 2020.

In the first month of 2020, the Treasury will hold a total of six tenders, including sales of floating rate bonds, lease certificates and TLREF (Turkish Lira Overnight Reference Rate)-indexed bonds.

The statement added that domestic debt redemptions amount to 27.8 billion liras in February while domestic borrowing is projected at 29 billion liras.

In the month, the authority will hold five auctions.

The Treasury said in March it plans to borrow 29.8 billion liras from the domestic market versus its debt redemption of 28.6 billion liras.

In March, a total of five auctions will be held.

The statement added that no external borrowing is planned in January-March.

Source: Hürriyet Daily News / link: http://www.hurriyetdailynews.com/treasury-to-repay-13-billion-debt-in-first-quarter-150499
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

According to the news of Hürriyet Daily News, the Turkish Treasury borrowed 8.85 billion Turkish liras ($1.5 billion) from domestic markets on Dec. 17.

Some 4.7 billion Turkish liras ($798.8 million) in two-year fixed coupon Treasury bills — semiannually, reopen, third issue — were sold in the first auction, the Treasury and Finance Ministry announced.

The Treasury bills will be settled on Dec. 18 and mature on Oct. 20, 2021.

The total tender amounted to 6.85 billion Turkish liras ($1.1 billion), with a 68.9 percent accepted/tendered rate.

The Treasury said the term rate of the 672-day Treasury bills was accepted at 5.77 percent, while the annual simple and compound interest rates were 11.55 percent and 11.88 percent, respectively.

In the second auction, the Treasury issued five-year CPI indexed bonds — semiannually, reopen, second issue — totaling 2.2 billion Turkish liras ($373.9 million).

The bonds will be settled on Dec. 18 with a maturity date of Nov. 11, 2024.

The total tender in the second auction amounted to 3.25 billion Turkish liras ($552.3 million), with a 68.2 percent accepted/tendered rate.

The term rate of 672-day government bonds was accepted at 1.46 percent, while the annual simple and compound interest rates were 2.92 percent and 2.94 percent, respectively.

The ministry also issued lease certificates worth 1.95 billion Turkish liras ($331.4 million) on Dec. 17.

Certificates will be settled on Dec. 18 with a maturity date of Dec. 15, 2021.

Under the ministry’s borrowing strategy, the Treasury projects holding 19 bond-auctions and a direct sale of lease certificates during the December-February period to borrow some 61.6 billion Turkish liras ($10.7 billion) from domestic markets.

Source: Hürriyet Daily News / link: http://www.hurriyetdailynews.com/turkish-treasury-borrows-1-5b-from-domestic-markets-149978
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

The ones, who bought an office or a real estate by taking advantage of VAT exemption in Turkey previously, will not be able to sell their real estates 1 year.

If they sell their office or real estate within 1 year, the tax (VAT), which was not paid when it was bought, will be received.

The properties, which are transferred to the Treasury ownership because of a suit brought by the Treasury, among the ones zoned for construction and then sold by the municipalities,  will be again transferred to persons as free of charge.

Source: General Meeting of TGNA (23.02.2017 Thursday)

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.