Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

By Trend

An auction for placement of short-term state bonds worth 25 million manats and maturity period of 364 days of Azerbaijan’s Ministry of Finance was held at the Baku Stock Exchange (BSE), Trend reports referring to the BSE.

Nineteen investors applied for bonds worth 75.228 million manats. All amount of the emission was sold.

Twenty-six applications were made within the price range of 90.9544 manats (with a yield of 10 percent) and 93.8405 manats (6.6 percent).

Stop-out price on competitive bids was 93.145 manats (7.4 percent) and the weighted average price was 93.1998 manats (7.3365 percent).

The deadline for the payment on bonds is May 12, 2020.

(1 USD = 1.7 AZN on May 14)

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