(MENAFN- Trend News Agency) BAKU, Azerbaijan, Oct. 20
By Zeyni Jafarov - Trend:
On Oct. 20, 2020, the Baku Stock Exchange (BSE) held an auction for the placement of state medium-term bonds of the Ministry of Finance of Azerbaijan worth 20 million manat ($11.7 million) with a turnover period of 1,092 days, Trend reports citing the BSE.
During the auction, 13 investors filed 21 applications in the price range from 93.51 manat ($55) with a yield to maturity (YTM) of 9.95 percent to 100 manat ($58.8) with a YTM of 9 percent per bond.
According to the decision of the Ministry of Finance, the cut-off price of bonds amounted to 97.59 manat ($57.4) with a YTM of 9.95 percent, and the weighted average price was 97.85 manat ($57.55) with a YTM of 9.84 percent.
The total amount of orders at nominal prices amounted to 84.79 million manat ($49.87), and the volume of placement was 30 million manat ($17.6 million).
The term of maturity of the bonds is Oct. 17, 2023.
The auction participants must fulfill their obligations to purchase bonds by Oct. 21, 2020.
(1 USD = 1.7 manat on Oct. 20)
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