Azerbaijani Finance Ministry's securities in high demand

Finance Materials 19 August 2020 13:17 (UTC +04:00)
Azerbaijani Finance Ministry's securities in high demand

BAKU, Azerbaijan, Aug.19

By Eldar Janashvili - Trend:

Baku Stock Exchange (BSE) held an auction on placement of Azerbaijani Finance Ministry’s medium-term government bonds worth 20 million manat ($11.7 million), Trend reports referring to BSE.

The interest payment term is 1,092 days.

During the auction, 12 investors submitted 17 bids in the price range from some 90.3179 manat ($53.13) with a yield to maturity (YTM) of 11.4999 percent to 101.0382 manat ($59.43) with the YTM of 8.732 percent per bond.

According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 100 manat ($58.82) with the YTM of 9 percent, and the weighted average price was 100.6942 manat ($59.23) with the YTM of 8.732 percent.

The total amount of orders at nominal prices amounted to 87.795 million manat ($51.64 million), and the placement volume – 18.968 million manat ($11.16 million).

Bidders must fulfill their obligations to acquire bonds through Aug.19, 2020 (T+1).

Baku Stock Exchange cooperates with a number of leading international financial institutions. In light of integration of the Azerbaijani economy to the global economy, effective management of capital markets in accordance with modern requirements, application of international standards, as well as the establishment of international relations with leading stock exchanges and financial institutions is of great importance for the Baku Stock Exchange.

(1 USD = 1.7 AZN on Aug.19)


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