This year’s first auctions on Finance Ministry’s T-bills proved to be ineffective
Baku, Fineko/abc.az. This years first auctions on placement of short-term bonds (T-bills) of the Ministry of Finance of Azerbaijan, organized at the Baku Stock Exchange on 8 June, proved to be ineffective.
The BSE reports that in accord with the issuer’s decision the investors’ orders set for the auction were not satisfied.
On 8 June, one investor submitted an order for AZN 1.02 million at price of 99.85% par value claiming for annual yield of 1.57% within the auction on the initial public offering of T-bills with ISIN-code AZ0101001367 (2 million ones at par value, circulation term: 35 days; redemption date: 13 July).
Besides, one investor submitted an order for an auction on the initial public offering of T-bills with ISIN-code AZ102002364 (4 million at face value, circulation term of 91 days and redemption date on 7 September). The order was submitted for AZN 502,100 at price of 99.5% par value (2.02% per annum).
Only on 6 June, the Ministry registered in the State Securities Committee a plan on issue of government bonds for 2012. The Finance Ministry plans to issue three types of bonds with a total nominal value of AZN 500 million. The volume of T-bills is expected to amount to AZN 180 million at face value.
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