Demand for bonds of Azerbaijani Finance Ministry exceeds supply by almost threefold

The Baku Stock Exchange (BSE) held an auction on Aug. 6 for placement of medium-term government bonds of Azerbaijani Finance Ministry for 25 million manats with a maturity of 728 days, Trend reports referring to BSE.

During the auction, 14 investors filed 24 applications for bonds with a price range of 94.4540 manats (at a yield of 10 percent) and 101.4657 manats (7.2 percent).

According to the decision of the Ministry of Finance, the cut-off price of bonds amounted to 101.2994 manats (7.29 percent), and the weighted average price was 101.3264 manats (7.2754 percent). The total volume of orders placed amounted to 25 million manats at a nominal price of 74,144,100.00 manats.

The maturity date of the bonds is Aug. 3, 2021.

Bidders must fulfill their obligations to purchase bonds before Aug. 7, 2019.