BAKU, Azerbaijan, June 16
By Eldar Janashvili – Trend:
Baku Stock Exchange (BSE) held an auction on placement of short-term state bonds of Azerbaijan’s Ministry of Finance worth 30 million manat ($17 million), Trend reports referring to BSE.
The turnover term is 364 days.
During the auction, 16 investors submitted 25 bids in the price range from 83.9565 manat ($49.38) with a yield to maturity (YTM) of 15.08 percent to 93.059 manat ($54.74) with the YTM of 7.49 percent per bond.
According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 91.7846 manat ($53.99) with the YTM of 9 percent, and the average price – 92.2334 manat ($54.25) with the YTM of 8.47 percent.
The total amount of orders at nominal prices amounted to 36.4 million manat ($21.4 million), and the placement volume – 30 million manat ($17 million).
Bidders must fulfill their obligations to acquire bonds until June 17, 2020.
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