BAKU, Azerbaijan, May 26. An auction for the placement of bonds of the Ministry of Finance of Azerbaijan totaling 50 million manat ($29.4 million) will be held on the Baku Stock Exchange (BSE) on May 30, Trend reports.
According to the BSE, bonds with a nominal value of 100 manat ($58.82) each with a maturity of 1,092 days and a yield of 7 percent will be put up for auction.
The interest payment dates are scheduled for October 24, 2023, April 23, 2024, October 22, 2024, April 22, 2025, October 21, 2025, and April 21, 2026.
The deadline for payment of the principal amount is April 21, 2026.
The underwriter of the placement is PASHA Capital CJSC.
Non-competitive orders may be accepted, provided that they do not exceed 20 percent of the bond issue during the auction.
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 by the issuer for auction.
If the demand for government 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.
