April 22, 2019 / 12:47 PM / a month ago

Turkish treasury to issue 3.7 bln euro debt instrument to strenghten state banks' capital

ANKARA, April 22 (Reuters) - Turkey’s Treasury said on Monday it will issue 5-year debt instruments worth a total of 3.7 billion euro to strengthen the capital of state banks and state Islamic lenders.

The government debt securities will be issued to the Market Stability and Balance Fund (PIDF), it said, adding that the fund will sell the securities to state lenders and buy back bank bonds and provide loans to strengthen their capital. (Reporting by Tulay Karadeniz Writing by Ezgi Erkoyun Editing by Dominic Evans)

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