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Azerbaijani Finance Ministry’s securities in great demand at Baku Stock Exchange

Finance Materials 19 January 2021 21:20
Azerbaijani Finance Ministry’s securities in great demand at Baku Stock Exchange

BAKU, Azerbaijan, Jan. 19

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 50 million manat ($29 million) on January 19, 2021, Trend reports on Jan. 19 citing the BSE.

The term of maturity is 728 days.

During the auction, 16 investors filed 29 bids in the price range from 91.34 manat ($53.72) with a yield to maturity (YTM) of 12 percent to 100.92 manat ($59.36) with a YTM of 6.5 percent.

According to the decision of the CBA, the cut-off price of bonds amounted to 98.38 manat ($57.87) with the YTM of 7.89 percent, and the weighted average price – 99.05 manat or $58.26 (7.5 percent). The total amount of orders at nominal prices amounted to over 172.6 million manat ($101.5 million), and the volume of placement is 75 million manat ($44.11 million).

The maturity date is January 17, 2023.

The volume of bonds offered by the issuer can be increased up to 50 percent if during the auction state bonds exceed the supply of demand and the issuer is pleased with the price.

Participants in the auction must fulfill their obligations to purchase bonds till January 21, 2021.

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