BAKU, Azerbaijan, Sept.17
By Zeyni Jafarov - Trend:
Baku Stock Exchange (BSE) will hold an auction on placement of 20 million manats ($11.7 million) worth of medium-term government bonds on September 22, Trend reports referring to BSE.
Bonds with a face value of 100 manats ($58.8), a circulation period of 728 days, and a yield to maturity (YTM) of 8 percent will be offered at the auction.
The interest payment dates for the bonds are March 23, 2021; September 21, 2021; March 22, 2022; September 20, 2022.
The deadline for payment on bonds is September 20, 2022.
During the auction, acceptance of non-competitive orders is allowed if the bond issue doesn’t exceed 20 percent. Moreover, the issuer may not accept these orders if the volume of orders released by the auction participants for the purchase of bonds is less than 20 percent of the volume of bonds released by the issuer at the auction.
If during the auction the demand for government bonds exceeds the supply and the price is satisfied by the issuer, the volume of bonds offered by the issuer may be increased up to 50 percent.
Those who are interested in attending the auction can contact investment companies - members of the exchange.
PASHA Capital Investment Company is an underwriter on issuing of government bonds.
(1 USD = 1.7 AZN on Sept.17)
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