Azerbaijan Finance Ministry agreed to raise yield of short-term bonds by 0,5%
Baku, Fineko/abc.az. Today, the Ministry of Finance of Azerbaijan has succeeded to place this year’s 64th issue of T-bills (state short-term bonds) at the Baku Stock Exchange (BSE) by only 45,105% of the announced volume.
The BSE reports that on 22 November two auction bidders submitted orders for AZN 1.804 million for purchase of 45.105% of the issue with registration number 10306431S with announced volume of AZN 4 million.
The orders were submitted at the price of 98.62% of T-bill par value (claim for yield: 2.81% per annum) and 98,53% (2,99%).
Under Ministry’s decision the orders were satisfied at the price of 98.53% (2.99%) and weighted average price 98,55% (2,95%). The issue was placed by AZN 1.804 million or 45,105%.
Redemption of the issue with circulation period of 182 days is scheduled for 22 May 2012.
Following the auction yield of T-bills with circulation period of less than one year rose by 0.49% from 2.5% to 2.99% on cut-off price and on weighted average price- by 0.45 points from 2,5% to 2,95%..
For the auctions in 2011 yield rise on the cut-off price still makes 0.49% and on weighted average price is 0.43%.
In 2008-11, decline of yield was registered at the level of 4.97% and 4.65% respectively.
Yield of T-bills with circulation term of about a year, not placed today remained unchanged on the cut-off price – 3.5% as well as on weighted average price.
It did not change in 2011 and in 2010 its rise made up 0.51% on cut-off price and average weighted price.
In 2008-11 it was registered a yield decline of 7.92% and 8.2% respectively.
For 2011 the Finance Ministry registered an issue prospectus for AZN 400 million, set out the 64 issues for AZN 339 million for trading and raised only AZN 158.805 million.
In 2010, the Ministry of Finance registered T-bill issue prospectus in the amount of AZN 1.1 bn and raised only a little more than AZN 236.7 million. In 2009, the MoF planned to issue T-bills for AZN 1.1 bn but managed to place them only for AZN 432.906 million.
In 2008, the Ministry issued T-bills for AZN 1.2 bn and raised AZN 317.495 million. In 2007, the Ministry issued T-bills for AZN 280 million and raised AZN 204.889 million.
Tags: short-term bonds
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