Azerbaijani Finance Ministry auctions public bonds

BAKU, Azerbaijan, The Baku Stock Exchange (BSE) held an auction on the placement of public bonds of Azerbaijan’s Finance Ministry with a circulation period of 1,820 days on November 1, Trend reports via the BSE.


According to the exchange, 10 investors submitted 16 bids in the price range from 83.8628 manat or $49.33 (10.2 percent) to 88.242 manat or $51.9 (8.9697 percent) during the auction.


In accordance with the decision of the Ministry of Finance, the cut-off price of public bonds was set at 86.3213 manat or $50.7 (9.5 percent), while the average weighted price – at 86.9708 manat or $51.1 (9.3191 percent).


The total amount of bids at nominal prices amounted to 48.3 million manat ($28.4 million), while the placement volume totaled 20 million manat ($11.7 million).


The maturity date of the bonds is October 26,2027.


Source: TREND News Agency