Baku Stock Exchange holds auction on placement of Finance Ministry's bonds
By Trend
Baku Stock Exchange (BSE) held an auction on placement of short-term government bonds of Azerbaijan’s Ministry of Finance worth 15 million manat ($8.8 million), Trend reports referring to BSE.
The interest payment term is 1,092 days.
During the auction, six investors submitted 10 bids in the price range from 93.9483 manat ($55.2) with a yield to maturity (YTM) of 9.8 percent to 100.0264 manat ($58.8) with the YTM of 7.49 percent per bond.
According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 99.9735 manat ($58.8) with the YTM of 7.5 percent, and the weighted average price was the same - 100.0124 manat ($58.8) with the YTM of 7.49 percent. The total amount of orders at nominal prices amounted to 50.3 million manat ($29.5 million), and the placement volume – 8.35 million manat ($4.9 million).
The maturity date of the bonds is Nov.7, 2023.