BAKU, Azerbaijan, April 7. The Baku Stock Exchange (BSE) will host an auction to place the Azerbaijani Finance Ministry's bonds for a total of 40 million manat ($23.5 million) on April 11, Trend reports citing the BSE.
Bonds with a nominal value of 100 manat ($58.8) each with a maturity of 1,092 days and a yield of seven percent will be put up for the auction.
Interest payment dates are set for October 10, 2023, April 9, 2024, October 8, 2024, April 8, 2025, October 7, 2025, and April 7, 2026.
The principal payment deadline is April 7, 2026.
The placement underwriter is PASHA Capital Investment Company CJSC.
During the auction, non-competitive orders are allowed to be accepted on the condition of not being more than 20 percent of the bond issue.
The issuer may not accept these orders if the volume of orders for the purchase of bonds placed by auction participants is less than 20 percent of the volume of bonds put up for auction by the issuer.
Previously, BSE hosted an auction to place the Finance Ministry's bonds for a total of 50 million manat ($29.4 million) on April 4.
The turnover of securities on the BSE from January through March 2023 exceeded 3.2 billion manat ($1.8 billion).