Azerbaijani Finance Ministry to auction Finance Ministry's bonds

Finance Materials 19 May 2023 12:05 (UTC +04:00)
Azerbaijani Finance Ministry to auction Finance Ministry's bonds
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, May 19. The Baku Stock Exchange (BSE) will host an auction to place the Azerbaijani Finance Ministry's bonds for a total of 30 million manat ($17.6 million) on May 23, Trend reports citing the BSE.

Bonds with a nominal value of 100 manat ($58.8) each with a maturity of 728 days and a yield of six percent will be put up for the auction.

The interest payment dates are set for November 21, 2023, May 21, 2024, November 19, 2024, and May 20, 2025.

The principal payment deadline is May 20, 2025.

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.

If the demand for public bonds exceeds the supply during the auction, and the price satisfies the issuer, the volume of bonds offered by the issuer can be increased up to 50 percent.

Recently, Azerbaijani National Depository Center (NDC) made coupon payments on the bonds of Azerbaijan's Ministry of Finance as a paying agent.

According to the NDC, the overall payment amount accounted for 3.77 million manat ($2.2 million).