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Finance Ministry's short-term state bonds worth $8.8m trade at auction

23 June 2020 19:00 (UTC+04:00)
Finance Ministry's short-term state bonds worth $8.8m trade at auction

By Ayya Lmahamad

Baku Stock Exchange (BSE) held an auction on placement of short-term state bonds of Ministry of Finance of Azerbaijan worth AZN 15 million ($8,8m) with 1092 day maturity, BSE’s official website reported on June 23.

During the auction, 25 bids were submitted from 14 investors with the price range of AZN 90.6123 ($53.3), with the yield of maturity of 15 percent and AZN 100.5011 ($59.12), with the yield of maturity of 10.8 percent per bond.

The Ministry of Finance set the cut-off price at AZN 95.159 ($55.98), with the YTM of 12.99 percent and the weighted average price at AZN 97.0816 ($57.11) with the YTM of 12.1905 percent. The total amount of placed orders at par was AZN 39,4 million ($23.2M) and AZN 15 million ($8.8M).

The bond maturity date is June 20, 2023.

Bidders must meet their obligations to acquire the bonds by June 24, 2020.

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