Page 65 - TURKRptSept19

well into their summer slowdown. There were virtually no bond issues from Russia at all in July; the entire running was made up by BCS Global Markets, which issued all seven issues coming out of Russia to the tune of a cumulative $63mn, although the wider CIS market saw more action with a cumulative $1.5bn of issues with another three decent sized bonds. What action there was all occurred in Central Europe with a cumulative $6.4bn from ten issues, reports Cbonds.
The biggest issues were from an embattled Turkey with a $2.25bn bond that matures in 2024 and pays 6.35% and Romania with a €1.4bn bond to strong demand that matures in 2031 and pays 2.125%.
8.5.1 Fixed income - govt funding plans
Domestic Government Debt Auctions and Borrowing Program
(TRY bn)
Total
Public
Yield
Auction
Maturity
Paper
Bids
Sold
B
S
(%)
13-May
05/13/2020
364-day Zero Coupon (new)
10.1
7.2
1.3
1.3
26.12
13-May
01/10/2024
5-year CPI-indexed semi-annual (re-open)
4.6
3.5
0.7
0.7
4.25
14-May
04/21/2021
2-year fixed semi-annual (benchmark) (re-open, 2.)
5.7
4.5
1.3
1.3
25.31
14-May
08/06/2025
6-year floating semi-annual (re-open, 6.)
3.9
3.1
0.5
0.5
21.38
10-Jun
05/13/2020
336-day Zero Coupon (new)
6.9
5.3
1.1
1.1
24.45
10-Jun
06/05/2024
5-year CPI-indexed Semi-annual Coupon (new)
2.8
2.2
0.4
0.4
4.15
11-Jun
04/21/2021
2-year Fixed Semi-annual (benchmark) (re-open)
4.4
3.5
1.1
1.1
22.83
11-Jun
08/06/2025
6-year floating semi-annual (re-open)
2.6
2.1
0.4
0.4
20.89
18-Jun
06/16/2021
2-year lease certificate (direct sale) (semi-annual)
1.6
10.55
18-Jun
12/11/2019
6-month lease c. (to pension funds, unscheduled)
3.9
2.1
-
-
23.49
8-Jul
09/16/2020
434-day Zero Coupon (new issue)
12.7
9.7
0.8
0.8
20.6
65 TURKEY Country Report September 2019 www.intellinews.com