This year’s third placement of callable bonds held in Azerbaijan
Baku, Fineko/abc.az. Yesterday for the third time in 2012 the Ministry of Finance of Azerbaijan conducted a successful auction on state callable bonds at the Baku Stock Exchange.
The BSE informs that on 13 July 2012 the four investors submitted the orders for AZN 17.506 million for purchase of 79.57% of SCBs offered for the auction with ISIN-code AZ0204003377, issued for AZN 22 million at par value. The orders were submitted at the price of 100% (4% per annum) and 100.01%.
In accordance with the Ministry’s decision the order was satisfied at the price of the 100% par value. As a result, the bonds with ISIN-code AZ0204003377 were sold for AZN 17.506 million (79.57% of the volume set out for the auction) with yield of 4%.
The maturity date of the bonds with ISIN-code AZ0204003377 and circulation term of 364 days is 12 July 2013.
The Ministry of Finance registered for 2012 an issue prospectus of CGBs for AZN 300 million at par value that is equivalent to 60% of the general issue target on state bonds in 2012.
For the first time the CGBs surpassed the state short-term bonds (T-bills) which were leading on plans and volume of the issue since 21 September 1996, when issue of government securities started in the country.
So far the CGBs for AZN 64 million (21.3% of this year’s target) have been put for sale. It was raised AZN 49.255 million (16.4% of target for 2012).
In 2011 the Finance Ministry raised AZN 59.39 million through 22 issues, in 2010 AZN 61.58 million through 24 issues, and in 2009 AZN 51.15 million through 5 issues of CGBs.
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