Securities of Azerbaijan Finance Ministry in high demand at Baku Stock Exchange

By Trend

The Baku Stock Exchange (BSE) held an auction on placement of medium-term government bonds of Azerbaijani Finance Ministry worth 15 million manat ($8.8 million), Trend reports with reference to the exchange.

The turnover period is 728 days.

Twelve investors submitted 20 bids in the price range from 95.5155 manat ($56.1) with a yield to maturity (YTM) of 9 percent to 103.77 manat ($61) with a YTM of 4.5076 percent per bond.

According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 102.1731 manat ($60.1) with a YTM of 5.2642 percent, and the weighted average price - 102.1731 manat with a YTM of 5.2642 percent. The total amount of orders at nominal prices amounted to 70.679 million manat ($41.5 million), and the placement volume - 15 million manat ($8.8 million).

The maturity date of the bonds is Feb. 1, 2020.