Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

Economy
16 October 2019, 12:54 37
An auction for placement of short-term state bonds worth 25 million manats of Azerbaijan’s Ministry of Finance was held at Baku Stock Exchange (BSE) on Oct. 15, Trend reports referring to BSE.
The maturity period of the bonds is 364 days.
During the auction, 12 investors submitted 18 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 93.972 manats (6.45 percent) while the weighted average price was 94.0594 manats (6.3505 percent).
The total volume of the placed orders reached 25 million manat at a nominal price of 81,854,800 manat.
The deadline for the payment on bonds is Oct. 13, 2020.