Azerbaijani Finance Ministry places medium-term bonds on auction

By Trend

The Baku Stock Exchange (BSE) held an auction on the placement of medium-term bonds of the Azerbaijani Ministry of Finance in the amount of 40 million manat ($23.5 million) on May 18, 2021, Trend reports citing the BSE.

The term of maturity is 728 days.

During the auction, 18 investors filed 32 bids in the price range from 91.34 manat ($53.7) with a yield to maturity (YTM) of 12 percent to 101.48 manat ($59.6) with a YTM of 6.2 percent.

In accordance with the decision of the finance ministry, the cut-off price of bonds reached 100.92 manat ($59.36) with the YTM of 6.5 percent, and the weighted average price – 100.93 manat or $59.3 (6.5 percent).

The total amount of applications at nominal prices amounted to about 228.7 million manat ($134.5 million) while the volume of placement - 60 million manat ($35 million).

The maturity date is May 16, 2023.

The auction participants must fulfill their obligations to purchase bonds by May 19, 2021.