Bonds in Tera Portföy's Funds Are Put Up for Sale
The Capital Markets Board plans to convert billions of liras worth of bonds and bills belonging to Tera Portföy into cash as part of the liquidation process.
Within the scope of the investment funds for which the Capital Markets Board decided to liquidate, it is planned to put up for sale approximately 23.5 billion TL worth of government bonds and bills held in Tera Portföy's 5 funds.
First Step in the Liquidation Process
A new development has taken place regarding the investment funds for which the Capital Markets Board decided on liquidation, with plans to convert the assets in Tera Portföy's funds into cash.
Distribution of Billion-Lira Bonds
It was stated that an important portion of the government domestic debt instruments subject to sale, amounting to approximately 21.9 billion TL, is located in the Tera Portföy Money Market Fund, while the remaining portion is held in the other four funds.
Controlled Sales Plan
In order to prevent the multi-billion-lira bond sale from causing sudden price movements in the market, it is envisaged that the process will be managed in a controlled manner, and within this scope, the central bank and public banks will step in as buyers.
Effects on Borsa Istanbul
It was reported that the liquidation process also affected pricing on Borsa Istanbul, with selling pressure causing stocks to hit floor levels and the BIST 100 index to decline.