TODAY.AZ / Business

Azerbaijani Finance Ministry's securities attract significant demand

06 August 2020 [12:14] - TODAY.AZ

By Trend

Baku Stock Exchange (BSE) held an auction on placement of Azerbaijani Finance Ministry’s medium-term government bonds worth 20 million manat ($11.7 million), Trend reports referring to BSE.

The interest payment term is 728 days.

During the auction, 14 investors submitted 20 bids in the price range from some 95.6438 manat ($56.26) with a yield to maturity (YTM) of 11.4999 percent to 100.45 manat ($59.09) with the YTM of 8.7498 percent per bond.

According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 100.1077 manat ($58.89) with the YTM of 11.4999 percent, and the weighted average price was 100.45 manat ($59.09) with the YTM of 8.7498 percent.

The total amount of orders at nominal prices amounted to 90.094 million manat ($53 million), and the placement volume – 20 million manat ($11.7 million).

Bidders must fulfill their obligations to acquire bonds until Aug.2, 2022.

Baku Stock Exchange cooperates with a number of leading international financial institutions. In light of integration of the Azerbaijani economy to the global economy, effective management of capital markets in accordance with modern requirements, application of international standards, as well as the establishment of international relations with leading stock exchanges and financial institutions is of great importance for the Baku Stock Exchange.

(1 USD = 1.7 AZN on Aug.6)


Print version

Views: 570

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: