Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

Tue 10 October 2017 19:57 GMT | 23:57 Local Time

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An auction for placement of short-term bonds of Azerbaijan’s Finance Ministry has been held at the Baku Stock Exchange (BSE), the BSE said Oct. 10.

The bonds are worth 25 million manats and maturity period of 364 days.

Ten investors applied for bonds worth 92.55 million manats. The bonds worth 25 million manats were sold.

The applications were made within the price range of 88.947 manats (with a yield of 12.4949 percent) and 94.3688 manats (6.0001 percent).

Stop-out price on competitive bids was 93.9281 manats (with a yield of 6.5 percent) and the weighted average price was 94.1479 manats (6.2501 percent).

The deadline for the payment on bonds is Oct. 9, 2018.

(1.7002 AZN = $1 on Oct. 10)

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