An auction on CBA short-term notes to be held


August 10, Fineko/abc.az. An auction on the placement of short-term notes of the Central Bank of Azerbaijan (CBA) will be held at the Baku Stock Exchange (BSE), ABC.AZ was informed at the BSE.

The volume of notes put up at the auction is AZN 200 million, the nominal value of one note is 100 manats, and the circulation term is 28 days. The notes will be redeemed on 9 September.

The total number of orders submitted by each bank should not exceed 2 (1 competitive and 1 non-competitive).

Non-competitive orders may be accepted, provided that the issue of notes does not exceed 20 percent.

In case of exceeding the demand for the offer collected at the auction, the offer can be increased by the issuer up to 20 percent of the initial auction amount.

Calculations for transactions concluded as a result of the auction will be performed in the T+0 mode. The price range for submitted orders is AZN 99.4782-99.5158.

Only local licensed banks can be buyers of CBA short-term notes.