Government bonds in big demand at Baku Stock Exchange's auction
BAKU, Azerbaijan, Sept. 8
By Zeyni Jafarov - Trend:
Baku Stock Exchange (BSE) held an auction on placement of state medium-term bonds of the Azerbaijani Ministry of Finance worth 20 million manats ($11.7 million) on September 8, 2020, Trend reports with reference to the BSE.
The turnover period is 1,092 days.
During the auction, 12 investors submitted 17 applications in the price range from 92.5 manats ($54.4) to 100.77 manats ($59.2), with a yield to maturity (YTM) of 8.69 percent to 12.05 percent per bond.
According to the decision of the Ministry of Finance, the cut-off price of bonds amounted to 97.48 manats ($57.3) with the YTM of 9.99 percent, and the weighted average price - 97.75 manats ($57.5) with the YTM of 9.88 percent.
The total amount of orders at nominal prices made up 75.5 million manats ($44.4 million), and the volume of placement was 30 million manats ($17.6 million).
Participants of the auction should execute their obligations to purchase bonds by September 9, 2020.
(1 USD = 1.7 AZN on Sept. 8)