Azerbaijani Finance Ministry to auction off mid-term state bonds
BAKU, Azerbaijan, July 11
By Zeyni Jafarov - Trend:
Baku Stock Exchange (BSE) will hold another auction on the placement of state medium-term bonds of Azerbaijan’s Ministry of Finance on July 13, 2021, Trend reports referring to a source in the BSE.
According to the source, the total amount of the bonds will be 40 million manat ($23 million).
The bonds with a face value of 100 manat ($58.8), a circulation period of 1,092 days, and a yield of 6.5 percent will be offered.
The interest (if any) payment dates are January 11, 2022, July 12, 2022, January 10, 2023, July 11, 2023, January 9, 2024 and July 9, 2024.
The deadline for bond payment is July 9, 2024.
PASHA Capital Investment Company is an underwriter on issuing the ministry’s state bonds.
During the trading, it is allowed to accept non-competitive orders for an amount not exceeding 20 percent of the bond issue volume.
For 2021, the Ministry of Finance plans to issue 17 million bonds amounting to 1.7 billion manat ($1 billion).
(1 USD = 1.7 AZN on July 11)