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 30 million manat ($17 million) on April 27, 2021, Trend reports citing the BSE. The term of maturity is 1,092 days.
During the auction, 18 investors filed 34 bids in the price range from 96 manat ($56) with a yield to maturity (YTM) of 9.05 percent to 100.53 manat ($59.1) with a YTM of 7.3 percent.
In accordance with the decision of the finance ministry, the cut-off price of bonds reached 98.95 manat ($58.20) with the YTM of 7.9 percent, and the weighted average price – 99.02 manat or $58.24 (7.87 percent).
The total amount of orders at nominal prices amounted to 148.6 million manat ($87.4 million), and the volume of placement is 45 million manat ($26 million). The maturity date is April 23, 2024.
Participants in the auction must fulfill their obligations to purchase bonds till April 28, 2021.
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