BAKU, Azerbaijan, June 5. An auction to place bonds of the Ministry of Finance of Azerbaijan for a total of 40 million manat ($23.5 million) will be held at the Baku Stock Exchange (BSE) on June 6, Trend reports.
According to the BSE, bonds with a face value of 100 manat ($58) each with a circulation period of 364 days will be put up for auction.
Principal payment due date – June 4, 2024.
The underwriter of the placement is PASHA Capital CJSC.
During the auction, it is allowed to accept non-competitive orders, provided that they do not exceed 20 percent of the bond issue.
In addition, the issuer may not accept these orders if the volume of orders for the purchase of bonds placed by auction participants is below 20 percent of the volume of bonds put up for auction by the issuer.
Earlier, at a meeting of the collegium of the Ministry of Finance, it was said that as of January 1, 2023, the value of government securities in circulation in Azerbaijan exceeded four billion manats.
The turnover of securities on the Baku Stock Exchange (BSE) in January-December 2022 exceeded 14.9 billion manat ($8.7 billion), which is two percent less than in the same period of 2021.