Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

By Trend

An auction for placement of mid-term state bonds worth 15 million manats of Azerbaijan’s Ministry of Finance was held at Baku Stock Exchange (BSE) on September 24, Trend reports referring to BSE.

The maturity period of the bonds is 1,092 days.

During the auction, 10 investors submitted 17 bids in the price range from 93.7555 manats (with a yield of 11 percent) to 100.6527 manats (8.2 percent).

According to the Finance Ministry’s decision, the cut-off price of bonds amounted to 100.2604 manats (8.4 percent) while the weighted average price was 100.4610 manats (8.3 percent).

The total volume of the placed orders reached 15 million manats at a nominal price of 42,529,500 manats.

The deadline for the payment on bonds is September 20, 2022.

Bidders must fulfill their bond purchase obligations till September 25, 2019.

(1 USD = 1.7 AZN on September 24)