Azerbaijani Finance Ministry’s securities in great demand at Baku Stock Exchange
The Baku Stock Exchange (BSE) held an auction on the placement of medium-term bonds of the Azerbaijani Ministry of Finance in the amount of 45 million manat ($26 million) on Feb. 16, 2021, Trend reports on Feb. 16 citing the BSE.
The term of maturity is 728 days.
During the auction, 15 investors filed 23 bids in the price range from 86.6 manat ($50.9) with a yield to maturity (YTM) of 15 percent to 100 manat ($58.8) with a YTM of 7 percent.
In accordance with the decision of the finance ministry, the cut-off price of bonds reached 98.38 manat ($57.87) with the YTM of 7.89 percent, and the weighted average price – 98.45 manat or $57.91 (7.85 percent). The total amount of orders at nominal prices amounted to over 140.8 million manat ($82.8 million), and the volume of placement is 67.5 million manat ($39.7 million).
The maturity date is Feb. 14, 2023.