The Baku Stock Exchange (BSE) will host an auction on placement of state medium-term bonds of the Ministry of Finance of Azerbaijan for a total of 15 million manats ($8.83 million) on November 10, 2020, Trend reports with reference to the stock exchange.
Bonds with face value of 100 manats ($58) with circulation term of 1,092 days will be offered at the auction. The collection of orders during the auction will be held from 11:00 to 12:30 in accordance with the trading regulations of the BSE.
The due date is November 7, 2023.
It is allowed to accept non-competitive orders during the auction, provided that the bond issue does not exceed 20 percent. In addition, the issuer may not accept these orders if the volume of orders issued by the auction participants for the purchase of bonds is less than 20 percent of the volume of bonds issued by the issuer at the auction.
If during the auction the demand for government bonds exceeds the supply and the price is satisfied by the issuer, the volume of bonds offered by the issuer may be increased up to 50 percent.
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