Short-term state bonds of Azerbaijani Finance Ministry in demand at auction
Date
6/23/2020 3:28:09 PM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 23
By Eldar Janashvili – Trend:
Baku stock exchange (BSE) held an auction on placement of short-term state bonds of Azerbaijan's Ministry of Finance worth 15 million manat ($8.8 million), Trend reports referring to BSE.
The turnover term is 1,092 days.
During the auction, 14 investors submitted 25 bids in the price range from 90.6123 manat ($53.30) with a yield to maturity (YTM) of 15 percent to 100.5011 manat ($59.11) with the YTM of 10.8 percent per bond.
According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 95.159 manat ($55.97) with the YTM of 12.99 percent, and the average price – 97.0816 manat ($57.10) with the YTM of 12.1905 percent.
The total amount of orders at nominal prices amounted to 39.4 million manat ($23.2 million), and the placement volume – 15 million manat ($8.8 million).
Bidders must fulfill their obligations to acquire bonds until June 20, 2023.
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