Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

Economy
22 October 2019, 19:56 33
An auction for placement of mid-term state bonds worth 15 million manat of Azerbaijan’s Ministry of Finance was held at Baku Stock Exchange (BSE) on Oct. 22, Trend reports referring to BSE.
The maturity period of the bonds is 1,092 days.
During the auction, eight investors submitted 14 bids in the price range from 96 manat (with a yield of 10 percent) to 101 manat (8.1025 percent).
According to the Finance Ministry’s decision, the cut-off price of bonds amounted to 100 manat (8.5 percent) while the weighted average price was 100.1953 manat (8.4249 percent).
The total volume of the placed orders reached 41.7 million manat at a nominal price.
The deadline for the payment on bonds is Oct. 18, 2022.