| From Hurriyet.com.tr: The Turkish Treasury said on Wednesday it issued 420.7 million Turkish Liras ($261 million) and $49.1 million in revenue-indexed bonds in a direct sale to banks, far below an official expectation of a 1.89 billion liras.
The lira bond has a three-year and three-month maturity and the dollar bond has a maturity of three years and six months. The bond is considered an "Islamic bond" as it does not rely on interest rates but rather the income from state-owned institutions. The Treasury had said the new bonds are part of an effort to diversify borrowing instruments..... Full Article: Source
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