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Turkish benchmark seen yielding 12.06% in tap-survey
ISTANBUL, June 23 - The Turkish Treasury's Feb. 2, 2011, benchmark bond is expected to yield 12.06 percent in a tap on Tuesday, a Reuters survey showed.
Sales of the 2011 benchmark were seen totalling 3 billion lira including non-competitive sales before the auction, according to the eight banks who took part in the survey.
Non-competitive sales of the benchmark amounted to 1.93 billion lira, consisting of 1.73 billion lira to primary dealers and 200 million lira to public institutions.
The Treasury's tap of an Aug. 28, 2013, fixed-coupon bond was expected to attract a price of 111.55 lira, with sales seen at 1.3 billion lira.
Non-competitive sales of the fixed-coupon bond totalled 481.1 million lira.
Bids for the benchmark tap were seen at 8.33 billion lira, and bids for the fixed-coupon bond were expected to be 3.35 billion lira.
The Treasury faces domestic debt repayments to the market of 3.64 billion lira on Wednesday.
It has previously said it planned to borrow 3.5 billion lira from the domestic market in June against redemptions of 4.1 billion lira. (Reporting by Nevzat Devranoglu, writing by Daren Butler, editing by Mike Peacock)
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