Finance Ministry to put state bonds up for new auction

By Trend

The Baku Stock Exchange (BSE) will host an auction on the placement of state medium-term bonds of the Ministry of Finance of Azerbaijan for a total of 10 million manat on August 10, 2021, Trend reports with reference to the BSE.

Reportedly, bonds with a face value of 100 manat ($58.8) each, with a maturity of 728 days and a yield to maturity (YTM) of 6 percent, will be put up for auction.

Interest payment terms (if any) are set for February 8, 2022, August 9, 2022, February 7, 2023 and August 8, 2023.

The maturity date for the bonds is August 8, 2023.

The underwriter of the issue is the Pasha Kapital investment company. In the course of trading, it is allowed to accept non-competitive orders for an amount not exceeding 20 percent of the volume of the bond issue.

In general, the Ministry of Finance of Azerbaijan plans to issue 17 million medium-term bonds for a total of 1.7 billion manat ($1 billion) in 2021.