The Baku Stock Exchange (BSE) held an auction on the placement of medium-term bonds of the Azerbaijani Ministry of Finance on June 8, 2021, Trend reports referring to a source in the BSE.
The amount of the bonds was 10 million manat ($5.88 million) and the term of maturity – 1,820 days.
During the auction, 17 investors filed 26 bids in the price range from 87.12 manat ($51.25) with a yield to maturity (YTM) of 12 percent to 101.2 manat ($59.53) with a YTM of 8.2 percent.
In accordance with the decision of the finance ministry, the cut-off price of bonds reached 99.2 manat ($58.35) with the YTM of 8.7 percent, and the weighted average price – 99.43 manat or $58.49 (8.64 percent).
The total amount of applications at nominal prices amounted to nearly 48.6 million manat ($28.59 million) while the volume of placement – 15 million manat ($8.82 million).
The maturity date is June 2, 2026.
The auction participants must fulfill their obligations to purchase bonds till June 9, 2021.
(1 USD = 1.7 AZN on June 9)
Source: TREND News Agency