(Adds Treasury’s 2020 borrowing programme)
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.
The Treasury also said it expects to borrow $9 billion from international markets in 2020 through bond issuances, up from $8 billion in 2019.
In its 2020 borrowing programme, the Treasury said it expected to borrow 299.6 billion lira ($52.45 billion)domestically and service a total 352.1 billion lira of foreign and domestic debt. ($1 = 5.7125 liras) (Reporting by Nevzat Devranoglu; Writing by Ali Kucukgocmen; Editing by Jonathan Spicer and Alexandra Hudson)