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Azerbaijan's Finance Ministry puts public bonds up for auction

Finance Materials 7 March 2023 17:05 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, March 7. The Baku Stock Exchange held an auction on the placement of the Azerbaijani Finance Ministry's public bonds with a circulation period of 364 days, Trend reports via the exchange.

As many as 27 investors submitted 64 bids in the price range from 89.3 manat or $52.5 (12 percent) to 93.9 manat or $55.2 (6.48 percent) during the auction.

In accordance with the ministry's decision, the cut-off price of public bonds was set at 93.8 manat or $55.1 (6.5581 percent), and the average weighted price stood at 93.9 manat or $55.2 (6.5 percent).

The total amount of bids at nominal prices amounted to 273.9 million manat ($161.1 million), while the placement volume totaled 70 million manat ($41.1 million).

The maturity date of the bonds is March 5, 2024.

Recently, the National Depository Center (NDC) of Azerbaijan made coupon payments on the Finance Ministry's bonds as a paying agent. According to the NDC, the overall amount of payments accounted for 3.36 million manat ($1.98 million).

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