Treasury places USD-denominated bonds at 5.16% yield. The Treasury borrowed a total TRL 2.2qn at
5.16% yield via the USD denominated FRNs (Floating Rate Notes).
The net borrowing in the auction was TRL 1.15qn, indicating a bid/cover ratio of 55%. Added the sales at non-competitive bids, the total borrowing reached TRL 2.2qn in line with the expectations.
As for the interest rate, it appeared at 5.16%, it was also in the band of market consensus forecast. The Treasury will redeem TRL 3.3bn domestic debt service today.