Azerbaijani 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 2,548 days on May 24, Trend reports citing the BSE.

According to the exchange, seven investors submitted eight bids in the price range from 86.899 manat or $55.12 (8.8914 percent) to 94.85 manat $55.79 (7.2716 percent) during the auction.

In accordance with the decision of the Ministry of Finance, the cut-off price of government bonds was set at 92.7006 manat or $54.53 (7.6924 percent) and the weighted average price – was 93.3 manat or $54.8 (7.5698 percent).

The total amount of bids at nominal prices amounted to over 25 million manat ($14.7 million) and the placement volume – was 10 million manat ($5.8 million).

The maturity date of the bonds is January 30, 2029.