![Yields on T-bills Increased by 6%](https://turan.az/resized/./turan-750-500-resize.webp)
Yields on T-bills Increased by 6%
On the second auction on October 4 the Ministry of Finance placed only a fifth of the bonds put up for auction with a maturity period of 31 days.
According to Baku Stock Exchange, the sold part of the T-bills amounted to 5 million 332 thousand AZN at face value. Investors were offered bonds in the amount of 22 million AZN.
A certain portion of the bonds was sold at 95.66 manats (YTM 18.45% per annum). The Ministry of Finance has agreed with investors on the weighted average price of the securities at the level of AZN 96.45 (14.93% per annum). Three investors participated in the auction.
On the previous auction held on August 30 the weighted average price of the bonds with a circulation period of 91 days was 9.33% per annum. The Ministry of Finance has made concessions to investors, increasing the yield by 6%.
It should be noted that the profitability of T-bills corresponds to the refinancing rate of the Central Bank on commercial banks 15% per annum. -----08D
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