Demand for bonds of Azerbaijani Finance Ministry exceeds supply by more than 3 times
Baku, Azerbaijan, July 9
By Kheyraddin Nasirzade - Trend:
The Baku Stock Exchange (BSE) held an auction for placement of medium-term government bonds of Azerbaijani Finance Ministry for 15 million manats with a maturity of 1,092 days, Trend reports referring to the BSE.
Applications for bonds totaling 49.646 million manats were filed by 10 investors. The entire amount of the issue has been fully sold.
Some 15 applications were submitted in the price range of 97.7122 manats (with a yield of 9.9 percent) and 100.7774 manats (8.7 percent).
The cut-off price at competitive bids was determined at 100.3101 manats (8.8799 percent), and the weighted average price at 100.3666 manats (8.8581 percent).
The payment term for the bonds is July 5, 2022.
(1 USD = 1.7 AZN on July 9)
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