Baku / 21.09.16 / Turan: At the 20 September Baku Stock Exchange auction the Ministry of Finance fully placed the annual T-bills offered to investors. The yield on them has increased compared to the previous auction from 9.5% to 15.3% per annum. The requests were partially satisfied at the profitability level of 16.99% per annum.
The BSE informs that six investors submitted 11 bids at the return rate of 21.99-12.46%. The total volume of orders amounted to 19.3 million manats.
According to experts, the increase in the T-bill return rate is associated with the increase in the refinancing rate of the Central Bank up to 15% per annum.
The Ministry of Finance T-bills are placed by discount payment. Investors buy them at a discounted rate, and the repayment is made at the nominal value.
The previous auction on the placement of T-bills with the maturity term of 364 days was held on September 6.
A T-bill is worth 100 manats. -----08D
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