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Azerbaijan's Ministry of Finance auctions public bonds

Finance Materials 3 August 2022 17:39 (UTC +04:00)
Azerbaijan's Ministry of Finance auctions public bonds
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, August 3. The Baku Stock Exchange held an auction on the placement of public bonds of the Azerbaijani Ministry of Finance with a circulation period of 1,820 days on August 2, Trend reports citing the ministry.

During the auction, four investors submitted seven bids in the price range from 89.9863 manat, or $52.99 (8.5 percent) to 94.8347 manat, or $55.8 (7.25 percent).

According to the ministry, the cut-off price of government bonds was set at 91.8891 manat, or $54.1 (eight percent), while the weighted average price – at 92.4763 manat, or $52.44 (7.8482 percent).

The total amount of bids at nominal prices amounted to 31.18 million manat ($18.36 million), whereas the placement volume – 18.8 million manat ($11.1 million).

The maturity date of the bonds is July 27, 2027.

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