Ministry of Finance Announces Plans to Place Government Bonds in First Quarter

Business

19:00 | 23.01.2019

Ministry of Finance Announces Plans to Place Government Bonds in First Quarter

The Ministry of Finance disclosed plans for the placement of government bonds for 2019, according to which, investors will be offered securities worth AZN 700 million at face value. The first successful placement of the Central Bank took place on January 22.

At an auction held at the Baku Stock Exchange, investors were offered bonds with a maturity of 364 days for a total nominal value of 25 million manat. The demand for T-bills by 13 investors exceeded the supply three times. The Ministry of Finance satisfied investors' bids at the level of supply at a weighted average cost of 93.40 AZN or 7.1% per annum at a nominal value of 100 AZN.

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