Gedik Yat\u0131r\u0131m taraf\u0131ndan yay\u0131mlanan de\u011ferlendirmede, Hazine\u2019nin Ekim-Aral\u0131k 2026 d\u00f6nemi finansman program\u0131n\u0131 a\u00e7\u0131klad\u0131\u011f\u0131 aktar\u0131ld\u0131. Buna g\u00f6re Hazine\u2019nin ekim ay\u0131nda 437 milyar TL i\u00e7 bor\u00e7 ve 179 milyar TL kar\u015f\u0131l\u0131\u011f\u0131 d\u0131\u015f bor\u00e7 geri \u00f6demesi ger\u00e7ekle\u015ftirece\u011fi, toplam 8 ihale ile do\u011frudan ve kamuya sat\u0131\u015flar yoluyla yakla\u015f\u0131k 419 milyar TL i\u00e7 bor\u00e7lanma hedefledi\u011fi belirtildi. \u00d6ng\u00f6r\u00fclen i\u00e7 bor\u00e7 \u00e7evirme oran\u0131n\u0131n y\u00fczde 95 seviyesinde oldu\u011fu ifade edildi.<\/p>\n
De\u011ferlendirmeye g\u00f6re Hazine, Ekim-Aral\u0131k d\u00f6neminde 220 milyar TL anapara ve 457 milyar TL faiz olmak \u00fczere toplam yakla\u015f\u0131k 677 milyar TL i\u00e7 bor\u00e7 geri \u00f6demesi ger\u00e7ekle\u015ftirecek. D\u0131\u015f bor\u00e7 geri \u00f6demelerinin TL kar\u015f\u0131l\u0131\u011f\u0131n\u0131n ise yakla\u015f\u0131k 241 milyar TL olmas\u0131 \u00f6ng\u00f6r\u00fcl\u00fcyor. Hazine\u2019nin bu d\u00f6nemde toplam 631 milyar TL i\u00e7 bor\u00e7lanma planlad\u0131\u011f\u0131 ve bunun y\u00fczde 93,2\u2019lik i\u00e7 bor\u00e7 \u00e7evirme oran\u0131na kar\u015f\u0131l\u0131k geldi\u011fi aktar\u0131ld\u0131. Bu rakamlar do\u011frultusunda Hazine\u2019nin net i\u00e7 bor\u00e7lanma tutar\u0131n\u0131n yakla\u015f\u0131k 411 milyar TL olmas\u0131 bekleniyor.<\/p>\n
Ekim ay\u0131nda i\u00e7 bor\u00e7 \u00f6demelerinin ayl\u0131k bazda 450 milyar TL\u2019ye yakla\u015fmas\u0131n\u0131n dikkat \u00e7ekti\u011fi belirtilen de\u011ferlendirmede, bu durumun ba\u015fl\u0131ca nedenleri aras\u0131nda TRT131027T36, TRT021030T18 ve TRT270934T18 kodlu sabit kuponlu tahvillerin yakla\u015f\u0131k 100 milyar TL tutar\u0131ndaki kupon \u00f6demeleri ile TRD071026T17 ve TRT071026T19 kodlu alt\u0131na dayal\u0131 tahvillerin yakla\u015f\u0131k 200 milyar TL tutar\u0131ndaki itfas\u0131n\u0131n bulundu\u011fu ifade edildi. Baz\u0131 de\u011fi\u015fken faizli tahvillerin kupon \u00f6demelerinin de i\u00e7 bor\u00e7 servisine katk\u0131 yapt\u0131\u011f\u0131 aktar\u0131ld\u0131.<\/p>\n
De\u011ferlendirmede, ekim ay\u0131nda 25,1 milyon gram tutar\u0131nda y\u00fcksek miktarl\u0131 alt\u0131n itfas\u0131 bulundu\u011fu belirtildi. Ger\u00e7ekle\u015ftirilecek alt\u0131n tahvili ihra\u00e7lar\u0131n\u0131n itfa tutarlar\u0131n\u0131n alt\u0131nda kalmas\u0131 halinde olu\u015facak fark\u0131n Hazine\u2019nin nakit veya rezerv pozisyonu \u00fczerinden finanse edilmesi gerekece\u011fi, itfa tutarlar\u0131na yak\u0131n veya \u00fczerinde bor\u00e7lanma yap\u0131lmas\u0131 durumunda ise alt\u0131n cinsi bor\u00e7 y\u00fck\u00fcn\u00fcn fiilen \u00f6telenmi\u015f olaca\u011f\u0131 ifade edildi.<\/p>\n
Alt\u0131n fiyatlar\u0131ndaki oynakl\u0131\u011f\u0131n bu yap\u0131 a\u00e7\u0131s\u0131ndan \u00f6nemli bir risk unsuru oldu\u011fu belirtilirken, alt\u0131n ons fiyat\u0131nda y\u00fczde 10\u2019luk art\u0131\u015f veya d\u00fc\u015f\u00fc\u015f\u00fcn mevcut itfa ve bor\u00e7lanma kompozisyonu dikkate al\u0131nd\u0131\u011f\u0131nda ekim ay\u0131 i\u00e7in yakla\u015f\u0131k 15 milyar TL tutar\u0131nda faiz\/kur fark\u0131 benzeri maliyet olu\u015fturma potansiyeli ta\u015f\u0131d\u0131\u011f\u0131 aktar\u0131ld\u0131. Bu durumun alt\u0131na dayal\u0131 bor\u00e7lanma stratejisinin k\u0131sa vadede b\u00fct\u00e7e dengelerine duyarl\u0131l\u0131\u011f\u0131n\u0131 art\u0131rd\u0131\u011f\u0131 de\u011ferlendirildi.<\/p>\n
Eyl\u00fcl ay\u0131nda yeniden bor\u00e7lanma oran\u0131n\u0131n y\u00fczde 99\u2019un \u00fczerinde ger\u00e7ekle\u015fti\u011fi bildirildi. Gedik Yat\u0131r\u0131m\u2019\u0131n de\u011ferlendirmesine g\u00f6re Hazine, 2026\u2019n\u0131n eyl\u00fcl ay\u0131nda yakla\u015f\u0131k 297 milyar TL i\u00e7 bor\u00e7 geri \u00f6demesine kar\u015f\u0131l\u0131k ihale yoluyla 294 milyar TL i\u00e7 bor\u00e7lanma ger\u00e7ekle\u015ftirdi. TRT020926T17 kodlu sabit kuponlu tahvilin itfas\u0131 ve son kupon \u00f6demesinin yan\u0131 s\u0131ra baz\u0131 de\u011fi\u015fken faizli tahviller ile kira sertifikalar\u0131n\u0131n kupon ve kira \u00f6demelerinin bor\u00e7lanma ihtiyac\u0131nda etkili oldu\u011fu belirtildi.<\/p>\n
Hazine\u2019nin eyl\u00fcl ay\u0131nda TL kar\u015f\u0131l\u0131\u011f\u0131 yakla\u015f\u0131k 46 milyar TL d\u0131\u015f bor\u00e7 geri \u00f6demesine kar\u015f\u0131l\u0131k 1,5 milyar dolar, yakla\u015f\u0131k 73 milyar TL tutar\u0131nda d\u0131\u015f bor\u00e7lanma ger\u00e7ekle\u015ftirdi\u011fi aktar\u0131ld\u0131.<\/p>\n
Hazine\u2019nin bor\u00e7 geri \u00f6deme projeksiyonlar\u0131na g\u00f6re Ocak-Aral\u0131k 2026 d\u00f6neminde 5,2 trilyon TL\u2019nin \u00fczerinde i\u00e7 bor\u00e7 geri \u00f6demesi \u00f6ng\u00f6r\u00fcld\u00fc\u011f\u00fc belirtildi. K\u0131sa vadeli bor\u00e7 finansman\u0131 ve baz\u0131 senetlere ili\u015fkin \u00f6demelerin \u00f6ng\u00f6r\u00fclerin \u00fczerine \u00e7\u0131kmas\u0131 nedeniyle bu tutar\u0131n a\u015f\u0131labilece\u011fi de\u011ferlendirildi. Ayn\u0131 d\u00f6nemde d\u0131\u015f bor\u00e7 geri \u00f6demesinin yakla\u015f\u0131k 20,35 milyar dolar seviyesinde olmas\u0131n\u0131n beklendi\u011fi ve bunun i\u00e7 bor\u00e7lanman\u0131n bir b\u00f6l\u00fcm\u00fcn\u00fcn d\u0131\u015f bor\u00e7 geri \u00f6demelerinde kullan\u0131labilece\u011fine i\u015faret etti\u011fi ifade edildi.<\/p>\n
Gedik Yat\u0131r\u0131m, 2026 y\u0131l\u0131n\u0131n tamam\u0131nda toplam i\u00e7 bor\u00e7 servisinin 5,4 trilyon TL\u2019nin \u00fczerine, faiz \u00f6demelerinin ise 2,4 trilyon TL\u2019ye kadar \u00e7\u0131kabilece\u011fini \u00f6ng\u00f6rd\u00fc. Hazine\u2019nin y\u0131l ba\u015f\u0131nda 2026 genelinde 5,3 trilyon TL\u2019nin biraz \u00fczerinde i\u00e7 bor\u00e7lanma planlad\u0131\u011f\u0131 ve bunun y\u00fczde 106\u2019l\u0131k i\u00e7 bor\u00e7 \u00e7evirme oran\u0131na i\u015faret etti\u011fi aktar\u0131ld\u0131. De\u011ferlendirmede, bu oranda belirli bir sapma ihtimali bulunabilece\u011fi, ancak 2025\u2019te ger\u00e7ekle\u015fen y\u00fczde 136\u2019l\u0131k orana k\u0131yasla iyile\u015fme g\u00f6r\u00fcld\u00fc\u011f\u00fc belirtildi.<\/p>\n
Hazine\u2019nin a\u00e7\u0131klad\u0131\u011f\u0131 takvime g\u00f6re ekim ay\u0131nda 7 Ekim\u2019de 251 milyar 845 milyon TL, 14 Ekim\u2019de 114 milyar 837 milyon TL ve 21 Ekim\u2019de 69 milyar 927 milyon TL olmak \u00fczere toplam 436 milyar 609 milyon TL i\u00e7 bor\u00e7 \u00f6demesi bulunuyor.<\/p>\n
Kas\u0131m ay\u0131nda 4 Kas\u0131m\u2019da 49 milyar 853 milyon TL, 11 Kas\u0131m\u2019da 50 milyar 417 milyon TL, 18 Kas\u0131m\u2019da 21 milyar 684 milyon TL ve 20 Kas\u0131m\u2019da 749 milyon TL olmak \u00fczere toplam 122 milyar 703 milyon TL i\u00e7 bor\u00e7 \u00f6demesi \u00f6ng\u00f6r\u00fcl\u00fcyor.<\/p>\n
Aral\u0131k ay\u0131nda ise 2 Aral\u0131k\u2019ta 9 milyar 189 milyon TL, 9 Aral\u0131k\u2019ta 69 milyar 998 milyon TL, 11 Aral\u0131k\u2019ta 327 milyon TL, 16 Aral\u0131k\u2019ta 28 milyar 771 milyon TL, 25 Aral\u0131k\u2019ta 4 milyar 190 milyon TL ve 30 Aral\u0131k\u2019ta 4 milyar 793 milyon TL olmak \u00fczere toplam 117 milyar 268 milyon TL i\u00e7 bor\u00e7 \u00f6demesi ger\u00e7ekle\u015ftirilecek.<\/p>\n
<\/strong> \u0130stanbul, 1 Ekim (Hibya) – Gedik Yat\u0131r\u0131m\u2019\u0131n de\u011ferlendirmesine g\u00f6re Hazine, ekim ay\u0131nda 437 milyar TL i\u00e7 bor\u00e7 ve 179 milyar TL kar\u015f\u0131l\u0131\u011f\u0131 d\u0131\u015f bor\u00e7 geri \u00f6demesi yapacak. Ayn\u0131 d\u00f6nemde yakla\u015f\u0131k 419 milyar TL i\u00e7 bor\u00e7lanma ger\u00e7ekle\u015ftirilmesi planlan\u0131yor.<\/p>\n","protected":false},"author":1,"featured_media":160205,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow07ekDA:productID":"","footnotes":""},"categories":[4,1,9],"tags":[],"class_list":["post-160204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dunya","category-ekonomi","category-manset"],"_links":{"self":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/160204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/comments?post=160204"}],"version-history":[{"count":0,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/160204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media\/160205"}],"wp:attachment":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media?parent=160204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/categories?post=160204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/tags?post=160204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nEKONOM\u0130 GAZETES\u0130 <\/p>\n","protected":false},"excerpt":{"rendered":"