Baku Stock Exchange holds auction on placement of medium-term government bonds

By Trend

Baku Stock Exchange (BSE) held an auction on placement of medium-term government bonds of Azerbaijan’s Ministry of Finance worth 15 million manat ($8.8 million), Trend reports referring to BSE.

The interest payment term is 728 days.

During the auction, eight investors submitted 13 bids in the price range from 94.6187 manat ($55.6) with a yield to maturity (YTM) of 9 percent to 102.52 manat ($60.3) with the YTM of 5.1899 percent per bond.

According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 100.5202 manat ($59.7) with the YTM of 5.1899 percent, and the weighted average price was the same - 100.5202 manat ($59.7) with the YTM of 5.1899 percent. The total amount of orders at nominal prices amounted to 42,295 million manat ($24.8 million), and the placement volume – 15 million manat ($8.8 million).

The maturity date of the bonds is Mar. 1, 2022.

Bidders must fulfill their obligations to acquire bonds until March 4, 2020.

(1 USD = 1.7 AZN on Mar. 4)