Azerbaijani Finance Ministry places medium-term bonds on auction
BAKU, Azerbaijan, May 5
By Sadraddin Aghjayev - 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 40 million manat ($23 million) on April 27, 2021, Trend reports citing the BSE.
The term of maturity is 1,092 days.
During the auction, 23 investors filed 39 bids in the price range from 88.936 manat ($52.3) with a yield to maturity (YTM) of 12 percent to 100 manat ($58.8) with a YTM of 7.48 percent.
In accordance with the decision of the finance ministry, the cut-off price of bonds reached 98.9 manat ($58.2) with the YTM of 7.9 percent, and the weighted average price – 99.36 manat or $58.44 (7.74 percent).
The total amount of orders at nominal prices amounted to 227.5 million manat ($133.8 million), and the volume of placement is 60 million manat ($35.3 million)
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.
The maturity date is April 30, 2024.
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