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Azerbaijani Finance Ministry auctions state medium-term bonds

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BAKU, Azerbaijan, Dec.1

By Zeyni Jafarov – Pattern:

The Baku Stock Exchange (BSE) hosted an auction on placement of condition medium-expression bonds of the Azerbaijan Finance Ministry for a overall of 10 million manat ($5.8 million) on Dec.1, 2020, Trend studies with reference to the inventory exchange.

The circulation phrase is 728 days.

During the auction, 9 investors submitted 12 bids in the selling price variety from 97.93 manat ($57.61) with a yield to maturity (YTM) of 8 per cent to 100.46 manat ($59.09) with the YTM of 6.6 p.c for every bond.

According to the decision of the Finance Ministry, the slash-off price of bonds amounted to 100 manat ($58.8) with the YTM of 6.85 %, and the weighted common cost was 100.31 manat ($59.01) with the YTM of 6.68 per cent.

The complete total of orders at nominal costs amounted to almost 42.1 million manat ($24.76 million), and the placement volume – 6.978 million manat ($4.1 million).

Maturity day of the bonds is November 21, 2023.

Bidders should fulfill their obligations to get the bonds until Nov.29, 2022.

If during the auction the need for authorities bonds exceeds the source and the price is pleased by the issuer, the quantity of bonds offered by the issuer may well be amplified up to 50 p.c.

Auction contributors should fulfill their obligations to order bonds by December 2, 2020.

(1 USD = 1.7 AZN on Dec.1)

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