Demand for Azerbaijani Finance Ministry’s bonds exceeds supply
Baku, Azerbaijan, Sept. 10
By Sara Israfilbayova - Trend:
An auction for placement of medium-term state bonds worth 15 million manats of Azerbaijan’s Ministry of Finance was held at the Baku Stock Exchange (BSE) on Sept. 10, Trend reports referring to BSE.
The maturity period of the bonds is 728 days.
During the auction, 12 investors submitted 19 bids in the price range from 97.3093 manats (with a yield of 9 percent) to 101.28 manats (6.8 percent).
According to the Finance Ministry’s decision, the cut-off price of bonds amounted to 100.366 manats (7.3 percent) while the weighted average price was 100.4837 manats (7.23 percent).
The total volume of the placed orders reached 15 million manats at a nominal price of 42,665,200.00 manats.
The deadline for the payment on bonds is Sept. 7, 2021.
Bidders must fulfill their bond purchase obligations till Sept. 11, 2019.
(1 USD = 1.7 AZN on Sept. 10)
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