Ministry of Finance of Azerbaijan Places Short-term Government Bonds of 20 Million AZN

The Ministry of Finance of Azerbaijan placed short-term government bonds worth 20 million manats on August 23, the Baku Stock Exchange said.

Six investors submitted 12 bids during the auction on placement of bonds in the amount of 10 million AZN, series AZ0102009518.

The nominal value of the orders totaled 14 million 5.7 thousand manats. The orders were submitted in the price range from AZN 91.6180 (18.4998% yield) to AZN 96.1943 (7.9999%).

The cutoff price for the bonds was determined by the Ministry of Finance at AZN 94.8400 (11.0017%) and the weighted average price was AZN 95.6251 (9.2512%).

The maturity of the bonds is 182 days, and the maturity date is February 21, 2017.

During the auction on the placement of bonds in the amount of 10 million AZN series AZ0104010514 five investors submitted 10 bids. The nominal value of the orders amounted to 16 million 123.2 thousand manats. The orders were submitted in the price range from AZN 82.1285 (21.8803% yield) to AZN 91.3500 (9.5212%).

The cutoff price for the bonds was determined by the Ministry of Finance at AZN 91.3500 (9.5212%) and the weighted average price was AZN 91.5212 (9.5212%).

The maturity of the bonds is 364 days, and the maturity date is August 22, 2017.    -----71D