Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

By  Trend

An auction for placement of medium-term state bonds worth 20 million manats and maturity period of 728 days of Azerbaijan’s Ministry of Finance was held at the Baku Stock Exchange (BSE), Trend reports referring to the BSE.

Seven investors applied for bonds worth almost 43.6 million manats. All bonds were sold.

The applications were made within the price range of 98.2062 manats (with a yield of nine percent) and 100.3638 manats (7.8 percent).

Stop-out price on competitive bids was 100.0181 manats (7.99 percent) and the weighted average price was 100.0442 manats (7.9756 percent).

The deadline for the payment on bonds is Feb. 9, 2021.

(1.7 AZN = 1 USD on Feb. 12)