Azerbaijani Finance Ministry auctions government bonds

The Baku Stock Exchange (BSE) held an auction on the placement of public bonds of Azerbaijan’s Finance Ministry with a circulation period of 1,820 days on July 5, 2022, Azernews reports, citing the BSE.

According to the exchange, 3 investors submitted 5 bids in the price range from AZN88.1 or $51.84 (nine percent) to AZN95.8 or $56.40 (6.9 percent) during the auction.

In accordance with the decision of the Ministry of Finance, the cut-off price of public bonds was set at AZN93.8404 or $55.2 (7.5 percent), while the average weighted price – at AZN94.4 or $55.56 (7.3 percent).

The total amount of bids at nominal prices amounted to over AZN46.2 million ($27.1 million), while the placement volume totaled AZN 12.4 million ($7.2 million).

The maturity date of the bonds is June 29, 2027.