Azerbaijani Finance Ministry puts bonds on auction again

By Trend

The Baku Stock Exchange (BSE) held an auction on placement of Azerbaijani Finance Ministry’s middle-term state bonds worth 25 million manat ($14.7 million), Trend reports referring to BSE on Oct. 13.

The interest payment term is 364 days.

During the auction, 14 investors submitted 15 bids in the price range from 91.7846 manat ($53.99) with a yield to maturity (YTM) of 9 percent to 93.5349 manat ($55.02) with the YTM of 6.95 percent per bond.

According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 93.1623 manat ($54.80) with the YTM of 7.3 percent, and the weighted average price was 93.2255 manat ($54.83) with the YTM of 7.306 percent.

The total amount of orders at nominal prices amounted to 87.89 million manat ($51.7 million), and the placement volume – 37.5 million manat ($22.05 million).

The maturity date of the bonds is Oct. 12, 2021.

The auction participants must fulfill their obligations to purchase bonds until October 14, 2020.

(1 USD = 1.7 AZN on Oct. 13)