TODAY.AZ / Business

Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

13 November 2019 [11:28] - TODAY.AZ

By Trend

An auction for placement of mid-term state bonds worth 15 million manat ($8.8 million) of Azerbaijan’s Ministry of Finance was held at Baku Stock Exchange (BSE) on Nov. 12, Trend reports referring to BSE.

The maturity period of the bonds is 728 days.

During the auction, ten investors submitted 16 bids in the price range from 97.2 manat ($57.1) with a yield of 9 percent to 101 manat ($59.4, with a yield of 6.9 percent).

According to the Finance Ministry’s decision, the cut-off price of bonds amounted to 100.5 manat ($59.1, or 7.1 percent) while the weighted average price was 100.7 manat ($59.2, or 7 percent).

The total volume of the placed orders reached 35.6 million manat ($20.9 million) at a nominal price, and the placement volume – 16 million manat ($9.4 million).

The deadline for the payment on bonds is Nov. 9, 2021.

($1 = 1.7 manat on Nov. 12)


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