TODAY.AZ / Business

Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

15 January 2020 [12:12] - TODAY.AZ

By Trend

An auction for placement of mid-term state bonds worth 15 million manat ($8.8 million) of Azerbaijan’s Ministry of Finance was held at Baku Stock Exchange (BSE) on Jan. 14, Trend reports referring to BSE.

During the auction, 186 investors submitted 25 bids in the price range from over 99 manat ($58) with a yield of 7 percent to 101.3 manat ($59.6, with a yield of 5.8 percent).

According to the Finance Ministry’s decision, the cut-off price of bonds amounted to 100.9 manat ($59.3, or 5.9 percent) while the weighted average price was over 101 manat ($59.4, or 5.9 percent).

The total volume of the placed orders reached 88.4 million manat ($52 million) at a nominal price, and the placement volume – 15 million manat ($8.8 million).

The deadline for the payment on bonds is Jan. 11, 2022.

($1 = 1.7 manat on Jan. 14)


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