Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

By  Trend

An auction for placement of short-term state bonds worth 25 million manats and maturity period of 364 days of Azerbaijan’s Ministry of Finance was held at the Baku Stock Exchange (BSE), Trend reports referring to the BSE.

Eighteen investors applied for bonds worth 83.4 million manats. The bonds worth 25 million manats were sold.

The applications were made within the price range of 90.9 manats (with a yield of 10 percent) and 93.4 manats (7.09 percent).

Stop-out price on competitive bids was 92.4 manats (8.2 percent) and the weighted average price was 93.04 manats (7.5 percent).

The deadline for the payment on bonds is April 14, 2020.

(1 USD = 1.7 AZN on April 17)