Today (February 5) the Baku Stock Exchange starts placement of short-term and medium-term bonds issued by the Ministry of Finance in manat and dollar denomination.
According to the preliminary conditions for participation at the auction, non-competitive proposals not exceeding 20% of the emissions are allowed.
The volume of short-term bonds offered to investors, which will be in circulation for 182 days, is 5 million manats. The auction will be deemed valid if it is submitted 40% of applications from the offered volume.
T-bills with maturity condition within 364 days are proposed in the amount of 15 million manats.
Investors are encouraged to T-bills (364 days) in the amount of $ 7 million and medium-term bonds (728 days) - $ 5 million.
It is noteworthy that the Ministry of Finance has not set a fixed rate of return on bonds.
The investment company JSC Capital Management believes the profitability of T-bills on manat will be about 7-9%, dollar -3% and 3.5% per annum.
The Ministry of Finance issued bonds in manats for 400 million AZN and $ 500 million. -----08B
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