BAKU, Azerbaijan, Jan.5
By Zeyni Jafarov - Trend:
The Baku Stock Exchange (BSE) held an auction on the placement of medium-term bonds of the Azerbaijani Ministry of Finance in the amount of 25 million manat ($14.7 million) on January 5, 2021, Trend reports citing the BSE.
The term of maturity is 1,092 days.
During the auction, 10 investors filed 18 bids in the price range from 91.44 manat ($53.79) with a yield to maturity (YTM) of 10.92 percent to 100 manat ($58.8) with a YTM of 7.5 percent.
According to the decision of the CBA, the cut-off price of bonds amounted to 97.4 manat ($57.29) with the YTM of 8.5 percent, and the weighted average price – 97.93 manat or $57.61 (8.29 percent). The total amount of orders at nominal prices amounted to 71.46 million manat ($42.04 million), and the volume of placement is 37.5 million manat ($22.06 million).
The maturity date is January 2, 2024.
The volume of bonds offered by the issuer can be increased up to 50 percent if during the auction government bonds exceed the supply of demand and the price is satisfied by the issuer.
Participants in the auction must fulfill their obligations to purchase bonds by January 6, 2021.
(1 USD = 1.7 manat on Jan.5)
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