By Trend

An auction for placement of 15 million manats worth mid-term bonds of Azerbaijan’s Ministry of Finance will be held at Baku Stock Exchange (BSE) on July 9, Trend reports referring to BSE.

Some 1.5 million securities at a par value of 100 manats each and a maturity period of 1,092 days will be put up for the auction.

The interest rate will be 9 percent per annum.

The maturity date for the bonds is July 5, 2021.

Interest payments during the circulation period will be made six times.

During the auction, non-competitive bids may account for up to 20 percent of the bond issue.

Azerbaijani investment company PASHA Capital will be the underwriter of the issuance.

(1 USD = 1.7 AZN on July 4)