New auction held for Azerbaijani Finance Ministry's state bonds
BAKU, Azerbaijan, Aug.4
By Zeyni Jafarov - Trend:
The Baku Stock Exchange (BSE) held an auction on the placement of medium-term state bonds of the Azerbaijani Ministry of Finance, Trend reports on Aug.4 referring to the BSE.
According to the BSE, the amount of the bonds was 10 million manat ($34.7 million) and the term of maturity – 1,820 days.
During the auction, 17 investors filed 27 bids in the price range from 95.6 manat ($56.2) with a yield to maturity (YTM) of 8.6 percent to 101.45 manat ($59.68) with a YTM of 7.15 percent.
In accordance with the decision of the finance ministry, the cut-off price of bonds reached 101.03 manat ($59.43) with the YTM of 7.25 percent, and the weighted average price – 101.24 manat or $59.55 (7.2 percent).
The total amount of applications at nominal prices amounted to 70.74 million manat ($41.61 million) while the value of placement – 15 million manat ($8.8 million) which shows an excess of demand over supply by more than four times.
The maturity date is July 28, 2026.
The auction participants must fulfill their obligations to purchase bonds till the end of Aug.4, 2021.
(1 USD = 1.7 AZN on Aug.4)