Azerbaijani Finance Ministry to put up state bonds for auction

By Trend

Baku Stock Exchange (BSE) will hold an auction on placement of state medium-term bonds of Azerbaijan’s Ministry of Finance worth 40 million manat ($23 million) on March 25, 2021, Trend reports referring to a source in the BSE.

Bonds with a face value of 100 manat ($58.8), a circulation period of 1,092 days and a yield of 7.5 percent will be offered.

The interest (if any) payment dates are November 23, 2021, May 24, 2022, November 22, 2022, May 23, 2023, November 21, 2023 and May 21, 2024.

The deadline for payment on the bonds is May 21, 2024.

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 amounting to 1.7 billion manat ($1 billion).

(1 USD = 1.7 AZN on May 23)

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