Baku Stock Exchange (BSE) held an auction on placement of Azerbaijani Finance Ministry’s medium-term state bonds worth 20 million manat ($11.7 million), Trend reports referring to BSE on Sept. 22.
The interest payment term is 728 days.
During the auction, 10 investors submitted 14 bids in the price range from 96.6621 manat ($56.86) with a yield to maturity (YTM) of 9.88 percent to 100.35 manat ($59.02) with the YTM of 7.81 percent per bond.
According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 100.0544 manat ($58.85) with the YTM of 7.97 percent, and the weighted average price was 100.0676 manat ($58.86) with the YTM of 7.96 percent.
The total amount of orders at nominal prices amounted to 83.9 million manat ($49.35 million), and the placement volume – 20 million manat ($11.76 million).
Maturity date of the bonds is September 20, 2022.
Bidders must fulfil their obligations to acquire bonds till Sept. 23, 2020 (T+1).
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