New auction to be held for Azerbaijani Finance Ministry's mid-term bonds

By Trend

The Baku Stock Exchange (BSE) will host an auction on placement of state medium-term bonds of the Azerbaijani Finance Ministry for a total of 40 million manat ($23.5 million) on April 20, 2021, Trend reports referring to the stock exchange.

Bonds with a par value of 100 manat ($58.8), a circulation term of 728 days and a yield to maturity (YTM) of 7 percent will be offered at the auction.

The deadline for payment on interest (if any) is October 19, 2021, April 19, 2022, October 18, 2022, and April 18, 2023, while for payment on bonds – April 18, 2023.

PASHA Capital Investment Company is an underwriter on issuing of the ministry’s state bonds.

For 2021, the Ministry of Finance plans to issue 17 million bonds, the amount of which is estimated at 1.7 billion manat ($1 billion).

(1 USD = 1.7 AZN on Apr.17)

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