BAKU, Azerbaijan, April 13. An auction on the placement of bonds of the Azerbaijani Ministry of Finance for a total of 30 million manat ($17.6 million) will be held on the Baku Stock Exchange (BSE) on April 18, Trend reports with reference to the BSE.
According to 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 auction.
Moreover, the interest payment dates are scheduled for October 17, 2023, April 16, 2024, October 15, 2024, and April 15, 2025.
The deadline for payment of the principal amount is set for April 15, 2025.
In addition, PASHA Capital Investment Company CJSC is the underwriter of the placement.
During the auction, non-competitive orders may be accepted, provided that they do not exceed 20 percent of the bond issue.
Furthermore, the issuer may not accept these orders if the order volume for the purchase of bonds placed by auction participants is less than 20 percent of the bond amount put up for auction by the issuer.
If the demand for government bonds surpasses the supply during the auction, and the issuer is content with the price, the volume of bonds offered by the issuer can be increased up to 50 percent.
