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Azerbaijani Finance Ministry to auction long-term state bonds

19 September 2021 [12:50] - TODAY.AZ

By Trend

The Baku Stock Exchange (BSE) will host an auction on the placement of long-term state bonds of the Azerbaijani Finance Ministry for a total of 10 million manat ($5.88 million) on September 21, 2021, Trend reports referring to the BSE.

Some 100,000 bonds with a par value of 100 manat ($58.8), a circulation term of 2,548 days, and a yield to maturity (YTM) of 7.5 percent will be offered at the auction.

The deadline for payment on interest (if any) is March 22 and September 20, 2022, March 21 and September 19, 2023, March 19 and September 17, 2024, March 18 and September 16, 2025, March 17 and September 15, 2026, March 16 and September 14, 2027, March 14 and September 12, 2028, while for payment on the main amount – September 12, 2028.

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

It is allowed to accept non-competitive orders during the auction, provided that the bond issue does not exceed 20 percent.

For 2021, the Ministry of Finance plans to issue one million long-term bonds, the amount of which is estimated at 100 million manat ($58.8 million).

(1 USD = 1.7 AZN on Sept.18)

URL: http://www.today.az/news/business/210093.html

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