The Baku Stock Exchange (BSE) held an auction on the placement of state short-term bonds of the Azerbaijani Ministry of Finance in the amount of 20 million manat ($11.8 million) on February 2, 2021, Trend reports on citing the BSE.
The term of maturity is 364 days.
During the auction, 16 investors filed 25 bids in the price range from 89.34 manat ($52.55) with a yield to maturity (YTM) of 12 percent to 94.48 manat ($55.58) with the YTM of 5.88 percent.
According to the decision of the CBA, the cut-off price of bonds amounted to 94.16 manat ($55.39) with the YTM of 6.24 percent, and the weighted average price – 94.19 manat or $55.41 (6.2 percent). The total amount of orders at nominal prices amounted to over 73.95 million manat ($43.5 million), and the volume of placement is 30 million manat ($17.64 million).
The maturity date is February 1, 2022.
The volume of bonds offered by the issuer can be increased up to 50 percent if during the auction state bonds exceed the supply of demand and the issuer is pleased with the price.
Participants in the auction must fulfill their obligations to purchase bonds till February 3, 2021.
(1 USD = 1.7 AZN on Feb.2)
Source: TREND News Agency