Finance Ministry to put up state bonds for auction

By Trend

Baku Stock Exchange (BSE) will hold an auction on the placement of state medium-term bonds of Azerbaijan’s Ministry of Finance worth 10 million manat ($5.9 million) on June 8, 2021, Trend reports referring to a source in the BSE.

Bonds with a face value of 100 manat ($58.8), a circulation period of 1,820 days, and a yield of 8.5 percent will be offered.

The interest (if any) payment dates are December 7, 2021, June 7, 2022, December 6, 2022, June 6, 2023, December 5, 2023, June 4, 2024, December 3, 2024, June 3, 2025, December 2, 2025, and June 2, 2026.

The deadline for bond payment is June 2, 2026.

PASHA Capital Investment Company is an underwriter on issuing the ministry’s state bonds.

For 2021, the Ministry of Finance plans to issue 17 million bonds amounting to 1.7 billion manat ($1 billion).

(1 USD = 1.7 AZN on June 6)