Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

By Trend

An auction for placement of short-term state bonds worth 30 million manats and maturity period of 364 days of Azerbaijan’s Ministry of Finance was held at the Baku Stock Exchange (BSE) on Aug. 20, Trend reports referring to BSE.

During the auction, 10 investors submitted 21 bids in the price range beginning from 92.6302 manats (with a yield of eight percent) and ending with 94.3866 manats (5.98 percent).

According to the Finance Ministry’s decision, the cut-off price of bonds amounted to 93.9281 manats (6.5 percent) while the weighted average price - 93.9844 manats (6.43 percent).

The total volume of the placed orders reached 30 million manats at a nominal price of 94,869,400.00 manats.

The deadline for the payment on bonds is Aug. 18, 2020.

Bidders must fulfil their bond purchase obligations till August 21, 2019.

(1 USD = 1.7 AZN on Aug. 20)