Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

By  Trend

An auction for placement of short-term state bonds worth 10 million manats and maturity period of 182 days of Azerbaijan’s Ministry of Finance was held at the Baku Stock Exchange (BSE), the BSE said.

Fifteen investors applied for bonds worth 46.16 million manats. The bonds worth 10 million manats were sold.

The applications were made within the price range of 94.3543 manats (with a yield of 12.0661 percent) and 97.1106 manats (six percent).

Stop-out price on competitive bids was 96.4148 manats (7.4986 percent) and the weighted average price was 96.4633 manats (7.3935 percent).

The deadline for the payment on bonds is March 12, 2019.

(1.7 manats = $1 on September 12)