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Demand for bonds of Azerbaijani Finance Ministry exceeds supply by more than 4 times

Demand for bonds of Azerbaijani Finance Ministry exceeds supply by more than 4 times
The Baku Stock Exchange (BSE) held an auction on July 16 for placement of medium-term government bonds of Azerbaijani Finance Ministry for 20 million manats with a maturity of 728 days, Trend reports referring to the BSE.
During the auction, 18 investors filed 29 applications for bonds with a price range of 96.4540 manats (at a yield of 10 percent) and 101.837 manats (6.9997 percent).
According to the decision of the Ministry of Finance, the cut-off price of bonds amounted to 100.6378 manats (7.65 percent), and the weighted average price was 100.8307 manats (7.5447 percent). The total volume of orders placed amounted to 20 million manats at a nominal price of 90,161,100.00 manats.
The maturity date of the bonds is July 13, 2021.
Bidders must fulfill their obligations to purchase bonds before July 17, 2019.

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