Demand for Azerbaijani Finance Ministry’s bonds exceeds supply
An auction for placement of mid-term state bonds worth 15 million manat ($8.8 million) of Azerbaijan’s Ministry of Finance was held at Baku Stock Exchange (BSE) on Nov. 26, Trend reports referring to BSE.
The maturity period of the bonds is 1,092 days.
During the auction, 16 investors submitted 29 bids in the price range from 94.9 manat ($55.9) with a yield of 10 percent to 101.3 manat ($59.7, with a yield of 8 percent).
According to the Finance Ministry’s decision, the cut-off price of bonds amounted to 100.7 manat ($59.3, or 8.2 percent) while the weighted average price was 100.8 manat ($59.4, or 8.1 percent).
The total volume of the placed orders reached 78.9 million manat ($46.5 million) at a nominal price, and the placement volume – 15 million manat ($8.8 million).
The deadline for the payment on bonds is Nov. 22, 2022.