Azerbaijan Finance Ministry to place interest-bearing bonds
BAKU, Azerbaijan, Aug.7
By Eldar Janashvili – Trend:
Azerbaijan's Baku Stock Exchange (BSE) will hold an auction on placement of interest-bearing medium-term manat bonds of country's Ministry of Finance worth 10 million manat ($5.8 million) on August 11, Trend reports referring to BSE.
Bonds with face value of 100 manat ($58.8), a circulation period of 728 days and a yield of 9 percent will be offered at the auction.
The interest payment dates for the bonds are Jan. 26, 2021; July 27, 2021; Jan. 25, 2022; July 26, 2022; Jan. 24, 2023; July 25, 2023; Jan. 23, 2024; July 23, 2024; and Jan. 21, 2025.
The date of payment on bonds is January 21, 2022.
PASHA Capital Investment Company is underwriter on issuing of state bonds of the Ministry of Finance.
During the auction, it is allowed to accept non-competitive orders, provided that the issue of bonds does not exceed 20 percent. Moreover, the issuer may not accept these orders if the volume of orders issued by the auction participants for the purchase of bonds is less than 30 percent of the volume of bonds issued by the issuer at the auction.
If during the auction government bonds exceed the supply of demand and the price is satisfied by the issuer, the volume of bonds offered by the issuer may be increased up to 50 percent.
Those willing to participate in the auction can contact the investment companies-members of the stock exchange.
(1 USD = 1.7 AZN on Aug.7)
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