By Trend:

Baku Stock Exchange (BSE) will hold an auction on the placement of state interest-bearing medium-term bonds of Azerbaijan’s Ministry of Finance worth 10 million manat ($5.8 million) on August 17, 2021, Trend reports referring to the BSE.

According to the BSE, bonds with a face value of 100 manat ($58.8), a circulation period of 1,092 days and a yield of 6.5 percent will be offered.

The payment dates for interest (if any) are February 15, 2022, August 16, 2022, February 14, 2023, August 15, 2023, February 13, 2024 and August 13, 2024.

The deadline for payment on the bonds is August 13, 2024.

PASHA Capital Investment Company is an underwriter on issuing the ministry’s state bonds.

During the auction, acceptance of non-competitive orders is allowed if the bond issue doesn’t exceed 20 percent.

For 2021, the Ministry of Finance plans to issue 17 million medium-term bonds totally amounting to 1.7 billion manat ($1 billion).