BAKU, Azerbaijan, Sept. 28
By Zeyni Jafarov - Trend:
An auction for the placement of state medium-term bonds of the Azerbaijani Ministry of Finance in the amount of 10 million manat ($5.8 million) with a circulation period of 1,820 days was held on the Baku Stock Exchange (BSE), Trend reports referring to the BSE.
According to the BSE, during the auction, 17 investors submitted 26 bids in the price range from 86.5 manat ($50.9) or 10 percent, to 102.8 manat ($60.47) or 5.85 percent.
According to the decision of the Ministry of Finance, the cut-off price of the bonds was determined at the level of 102.6 manat ($60.3) or 5.9 percent.
The total amount of applications at nominal prices was about 75.4 million manat ($44.3 million), and the volume of placement was 15 million manat ($8.8 million), which testifies to the fact that demand exceeded supply by over five times.
The maturity date of the securities is September 22, 2026.
The auction participants must fulfill their obligations to purchase bonds till September 29, 2021.
(1 USD = 1.7 AZN on Sept. 28)
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