BAKU, Azerbaijan, June 1
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 on June 1, 2021, Trend reports referring to a source in the BSE.
The amount of the bonds was 50 million manat ($23.5 million) and the term of maturity - 1,092 days.
During the auction, 23 investors filed 36 bids in the price range from 86.69 manat ($50.9) with a yield to maturity (YTM) of 13 percent to 101.84 manat ($59.91) with a YTM of 6.81 percent.
In accordance with the decision of the finance ministry, the cut-off price of bonds reached 101.47 manat ($59.69) with the YTM of 6.95 percent, and the weighted average price – 101.5 manat or $59.71 (6.94 percent).
The total amount of applications at nominal prices amounted to about 297.24 million manat ($174.85 million) while the volume of placement - 75 million manat ($44.1 million).
The maturity date is May 28, 2024.
The auction participants must fulfill their obligations to purchase bonds till June 2, 2021.
(1 USD = 1.7 AZN on June 1)
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