Azerbaijan's Finance Ministry auctions off government bonds

By Trend

The Baku Stock Exchange (BSE) held an auction on the placement of government bonds of Azerbaijan’s Finance Ministry with a circulation period of 1,820 days on May 17, 2022, Trend reports citing the BSE.

According to the exchange, 11 investors submitted 16 bids in the price range from 93.7625 manat or $55.15 (seven percent) to 98.2895 manat or $57.82 (5.9 percent) during the auction.

In accordance with the decision of the Ministry of Finance, the cut-off price of government bonds and the weighted average price were set at 97.4452 manat or $57.32 (6.1 percent).

The total amount of bids at nominal prices amounted to over 101.7 million manat ($59.82 million) and the placement volume – up to 40 million manat ($23.5 million).

The maturity date of the bonds is May 11, 2023.