Demand for Azerbaijani Finance Ministry’s bonds exceeds supply

Tue 14 November 2017 16:19 GMT | 20:19 Local Time

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An auction for placement of medium-term bonds worth 10 million manats of Azerbaijan’s Ministry of Finance was held at the Baku Stock Exchange (BSE), the BSE said Nov. 14.

Five investors applied for bonds worth 20.21 million manats and maturity period of 1,092 days. The bonds worth 10 million manats were sold, Trend reports.

The applications were made within the price range of 100 manats (with a yield of 15 percent) and 114.0704 manats (9.5 percent).

Stop-out price on competitive bids was 105.8458 manats (with a yield of 12.5999 percent) and the weighted average price was 109.3694 manats (11.2349 percent).

The deadline for the payment on bonds is Nov. 10, 2020.

(1.7002 manats = 1 USD on Nov. 14)

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