BAKU, Azerbaijan, Oct. 1
By Fidan Babayeva - Trend:
On September 29, the Baku Stock Exchange (BSE) held an auction on placement of Azerbaijani Finance Ministry’s short-term state bonds worth 30 million manat ($11.7 million), Trend reports referring to BSE on Sept. 22.
The interest payment term is 364 days.
During the auction, 13 investors submitted 18 bids in the price range from 91.7846 manat ($53.99) with a yield to maturity (YTM) of 9 percent to 93.6656 manat ($55.09) with the YTM of 6.8 percent per bond.
According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 93.145 manat ($54.791) with the YTM of 7.4 percent, and the weighted average price was 93.1736 manat ($54.808) with the YTM of 7.96 percent.
The total amount of orders at nominal prices amounted to 101.69 million manat ($59.81 million), and the placement volume – 45 million manat ($26.47 million).
The maturity date of the bonds is September 28, 2021.
The volume of bonds offered by the issuer can be increased up to 50 percent if during the auction government bonds exceed the supply of demand and the price is satisfied by the issuer.
((1 USD = 1.7 AZN on Oct. 1)
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