The Baku Stock Exchange (BSE) will host an auction on the placement of state medium-term bonds of the Azerbaijani Finance Ministry for a total of 10 million manat ($5.88 million) on August 31, 2021, Trend reports referring to the BSE.

Bonds with a par value of 100 manat ($58.8), a circulation term of 1,092 days, and a yield to maturity (YTM) of 6.5 percent will be offered at the auction.

The deadline for payment on interest (if any) is March 1, 2022, August 30, 2022, February 28, 2023, August 29, 2023, February 27, 2024, and August 27, 2024, while for payment on bonds – August 27, 2024.

PASHA Capital Investment Company is an underwriter on issuing the ministry’s state bonds.

It is allowed to accept non-competitive orders during the auction, provided that the bond issue does not exceed 20 percent.

For 2021, the Ministry of Finance plans to issue 17 million bonds, the amount of which is estimated at 1.7 billion manat ($1 billion).

(1 USD = 1.7 AZN on Aug.30)

Source: TREND News Agency