The Baku Stock Exchange conducted an auction on placement of AZN 40 million (5 years) bonds of the Finance Ministry with code AZ0108015949 for circulation period of 1,820 days. This is reported by the BSE.

The report says that 12 investors submitted 18 bids at price intervals of AZN 88.1309 (9%) and AZN 98.3112 (6.4%) for AZN 104.29 million. Since the demand exceeded the offer 2.6 times and the price satisfied the issuer, the offering was carried out by 41.3% more than it was stipulated by the rules – AZN 56.532 million.

According to the decision of the Ministry of Finance, the cut-off price of the bonds was fixed at AZN 95.8416 (7%) and weighted average price – AZN 96.9289 (6.7335%).

The maturity date of the bonds is June 1, 2027. Bidders should fulfill their obligations on bond purchase not later than today.

It is worth reminding that if the demand for government bonds exceeds the supply and the price satisfies the issuer, the bonds put up for auction can be raised up to 50%.

Source: Turan News Agency