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 40 million manat ($23.5 million) on May 25, 2021, Trend reports citing the BSE.
The term of maturity is 1,092 days.
During the auction, 25 investors filed 39 bids in the price range from 86.69 manat ($50.9) with a yield to maturity (YTM) of 13 percent to 101.87 manat ($59.9) with a YTM of 6.8 percent.
In accordance with the decision of the finance ministry, the cut-off price of bonds reached 100.29 manat ($58.99) with the YTM of 7.39 percent, and the weighted average price – 100.41 manat or $59.06 (7.35 percent).
The total amount of applications at nominal prices amounted to about 270.8 million manat ($159.3 million) while the volume of placement - 60 million manat ($35 million).
The maturity date is May 21, 2024.
The auction participants must fulfill their obligations to purchase bonds till May 26, 2021.
Follow us on Twitter @AzerNewsAz