BSTDB reaches record levels at auction on placement of bonds


August 2, Fineko/ The record performance has been achieved at the auction on Black Sea Trade & Development Bank’s bonds with state registration number AZ2001021487, held at the Baku Stock Exchange trading platform on 1 August 2019.

The BSE reports that the BSTDB collected orders for AZN 81 million on the bonds issued in the amount of AZN 10 million. Thus, the demand for the bonds placed through competitive auction exceeded the supply by 8 times. For the first time in the local securities market the investors submitted a record of 63 orders for bonds issued in the national currency by the international financial institution.

In accord with the decision of the Issuer, the cut-off price per bond is AZN 1,036.9251 and the weighted average price is AZN 1,038.5984. The issue was sold fully. The circulation term of the bonds is 730 days. The maturity date of the bonds is 31 July 2021. The yield on them will be 9.25% per annum, interest payments to holders will be made quarterly.

It should be noted that since 2019 the BSTDB’s long-term credit rating has been defined by Standard & Poor's at degree A- and Moody's.