State medium-term bonds (GEO) series AZ0106013359 for 1 million manat were placed on the auction held on November 30 at the Baku Stock Exchange. Volume of accepted non-competitive bids totaled 194.1 thousand manats.
Total volume of orders submitted by two investors made AZN 2.69 million at face value. Orders were granted at a price of 100%, 100.32% and 100.87% (YTM 5.00%).
Repayment of GEO on 27 November 2015.
The same day, the Ministry of Finance posted on the Exchange public callable bonds (CGB) series AZ0204012378 at 5 million manat.
The order volume, one bidder was exactly 5 mln at face value. The bid was submitted and granted in at 100.00% (YTM 4.00%).
Repayment of these CGBs will be held on 29 November 2013. - 15D -
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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