ISTANBUL, Oct 31 (Reuters) - Turkey will issue 5- and 6-year fixed-coupon bonds in November, the Treasury said on Thursday, taking advantage of sharp interest-rate cuts to return to long-term borrowing.
The Treasury had last issued a 5-year fixed-coupon bond in November 2018 and a 10-year fixed bond in July 2018. It has since preferred shorter-term issuance to limit the long-term impact of the cost of borrowing.
After having raised its policy rate to 24% in September of last year, the central bank in the last four months has cut rates by 1,000 basis points. (Reporting by Nevzat Devranoglu; Writing by Ali Kucukgocmen; Editing by Jonathan Spicer)