Turkey's Treasury Undersecretariat decided on Friday to launch buy back auctions.
Releasing a statement, the undersecretariat said it would launch a buy back program covering September-December 2010 period to ensure a balanced debt redemption profile and to increase the price efficiency of secondary market.
Auctions will be held on every Thursday, as of September 2, 2010. Maximum buy back amount will be TRY 200 million (131.5 million USD) weekly.
In September, securities with ISIN code TRT120111T10, TRT190111T13, TRT020211T11 will be bought back.
For the following months, securities to be bought back will be announced monthly in "Domestic Borrowing Strategy".
According to the Primary Dealership Agreement, only Primary Dealer banks can participate to buy-back auctions.
Securities to be bought back on Thursdays will be announced on Wednesdays until 5 p.m. on Treasury website.
Auctions will be held on Thursdays and settlement date will be Fridays.
For further information, you can visit
http://www.treasury.gov.tr/irj/go/km/docs/documents/Treasury%20Web/Announcements/P ress%20Release/Public%20Finance/Auction%20Announcements/KAF_20100827_Geri_alim_ing .doc
AALast Mod: 27 Ağustos 2010, 18:04