TRNC Ministry of Finance to borrow TRY 3.45 billion at September 3 auction
The Central Bank of the TRNC has announced an auction of Treasury bonds worth 3,450,000,000 Turkish lira. The placement is being conducted to cover the financial needs of the Ministry of Finance, with the auction scheduled for Thursday, September 3.
Bids will be accepted from 10:00 to 12:00. The securities will be issued for 98 days: the settlement date is September 4, and maturity is set for December 11, 2026. The auction will be conducted using a multiple-price method, in which each winner pays the price they submitted in their bid.
The bonds are denominated in Turkish lira and sold at a discount: the investor pays less than the face value and receives the full amount at maturity, with the difference constituting their return. Banks may submit bids, while individuals can do so through authorised banks via the DİBS menu on the electronic transactions platform.
The Ministry of Finance conducted its previous placement on August 27. Against a target of TRY 4.3 billion, demand amounted to TRY 5.75 billion, while TRY 4.715 billion was raised at a weighted average annual interest rate of 38.60% for 91 days, with maturity on November 27. At the same time, the state borrowed USD 7 million, EUR 4.26 million and GBP 1 million for 133 days.
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