Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

An auction for placement of short-term state bonds worth 15 million manats of Azerbaijan’s Ministry of Finance was held at the Baku Stock Exchange (BSE) on Sept. 17, Trend reports referring to BSE.

The maturity period of the bonds is 364 days.

During the auction, 10 investors submitted 20 bids in the price range from 91.7846 manats (with a yield of 9 percent) to 94.3689 manats (6 percent).

According to the Finance Ministry’s decision, the cut-off price of bonds amounted to 94.1392 manats (6.3 percent) while the weighted average price was 94.3689 manats (6 percent).

The total volume of the placed orders reached 15 million manats at a nominal price of 43,735,600 manats.

The deadline for the payment on bonds is Sept. 15, 2020.

Bidders must fulfill their bond purchase obligations till Sept. 18, 2019.

(1 USD = 1.7 AZN on Sept. 17)