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Azerbaijani Finance Ministry puts up mid-term state bonds for new auction

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Azerbaijani Finance Ministry puts up mid-term state bonds for new auction

BAKU, Azerbaijan, July 14

By Zeyni Jafarov – Trend:

The Baku Stock Exchange (BSE) held an auction on the placement of medium-term state bonds of the Azerbaijani Ministry of Finance, Trend reports on July 14 referring to a source in the BSE.

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The amount of the bonds was 40 million manat ($ 23.5 million) and the term of maturity – 1,092 days.

During the auction, 14 investors filed 26 bids in the price range from 98.14 manat ($ 57.73) with a yield to maturity (YTM) of 7.2 percent to 100.4 manat ($ 59.06) with a YTM of 6.35 percent.

In accordance with the decision of the finance ministry, the cut-off price of bonds reached 100.296 manat ($ 59) with the YTM of 6.39 percent, and the weighted average price – 100.34 manat or $ 59.02 (6.37 percent).

The total amount of applications at nominal prices amounted to nearly 149.84 million manat ($ 88.14 million) while the volume of placement – 40 million manat ($ 23.5 million).

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The maturity date is July 9, 20243.

The auction participants must fulfill their obligations to purchase bonds till July 14, 2021.

(1 USD = 1.7 AZN on July 14)

Follow the author on Twitter: @jafarov_zeyni

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This post originally posted here Trend – News from Azerbaijan, Georgia, Kazakhstan, Turkmenistan, Uzbekistan, Iran and Turkey.

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Azerbaijani Finance Ministry puts up mid-term state bonds for new auction
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