Securities of Azerbaijani Finance Ministry in demand at auction

By Trend

Baku Stock Exchange (BSE) held an auction on placement of short-term state bonds of Azerbaijan’s Ministry of Finance worth 33.4 million manat ($19.6 million), Trend reports referring to BSE.

The turnover term is 364 days.

During the auction, 13 investors submitted 21 bids in the price range from 83.6389 manat ($49.19) with a yield to maturity (YTM) of 20.06 percent to 92.3442 manat ($54.32) with the YTM of 8.5 percent per bond.

According to the decision of the Finance Ministry, the cut-off price of bonds amounted to 90.7183 manat ($53.36) with the YTM of 10.49 percent, and the average price – 91.3749 manat ($53.74) with the YTM of 9.68 percent.

The maturity date of the bonds is May 4, 2021.

The total amount of orders at nominal prices amounted to 36.2 million manat ($21.3 million), and the placement volume – 25.7 million manat ($15.1 million).

Bidders must fulfil their obligations to acquire bonds until May 13, 2020.