The Baku Stock Exchange (BSE) held an auction on placement of long-term government bonds of the Ministry of Finance with ISIN AZ0110002927 in the amount of 10 million manat with a maturity of 2548 days on September 21.

AZERTAC was informed by the BSE that during the auction 21 orders were submitted by 12 investors in the price range of 79.0862 AZN (12 percent) and 101.7395 AZN (7.1795 percent). The Ministry of Finance set the cut off price in the amount of AZN 96.8418 (8.0999 percent) and the weighted average price in the amount of AZN 100.9168 (7.3302 percent). The total amount of orders at face value was 54,266,000 manat, and the volume placed was 9,908,100 manat. The bonds will be repaid on September 12, 2028. Bidders must fulfill their obligations to purchase bonds by September 22 (T + 1). If the demand for government bonds exceeds the supply and the price satisfies the issuer during the auction, the volume of bonds offered by the issuer may be increased by up to 50 percent.

Source: Azerbaijan State News Agency