Baku, Fineko/abc.az. Yesterday the Ministry of Finance of Azerbaijan placed this year’s issue of T-bills (state short-term bonds) at the Baku Stock Exchange for the first time since 18 May. At that, only this year’s 45th issue turned out “lucky” while the 46th and 47th ones were not placed.

The BSE reports that on 6 July in the process of the placement of the bond issue with registration number 10104526S two bidders submitted the orders for AZN 2.539 million at face value that or 14.1% of the announced issue volume (AZN 18 million).

The orders were submitted at the price of 99.89% (claim for profitability 1.15%).

Under Ministry’s decision, the cut-off price was fixed at the level of 99.89% (1.15%), and weighted average price conformed to it. As a result, the issue was placed for AZN 2.539 million. The maturity date of the issue with 35-day circulation term is 10 August 2010.

As a result, in 2010 profitability of T-bills with circulation period of less than one year remained at the level of 1.15% on both cut-off price and weighted average price.

During this year’s auctions rise of profitability on the cut-off price has totaled 0.4% and on weighted average price 0.49%. In 2008-10, decline of profitability still makes 7.87% and 6.81% respectively.

As for the issue with circulation period of around one year, its profitability on cut-off price kept at the level of 3.45% and on weighted average - 3.4%.

In 2010, its rise on cut-off price is 0.46% and on average weighted price 0.41%.

In 2008-10, decline was registered on these indicators by 7.97 points and 8.3 points respectively.

In 2010, the MoF registered T-bill issue prospectus for AZN 1.1 bn. It has set out 47 issues for AZN 561 million at face value on 46 issues (51% of the issue planned for this year) and has raised only AZN 41.86 million.

In 2009, the Ministry of Finance planned to issue T-bills in the amount of AZN 1.1 bn but managed to place them only for AZN 432.906 million.

In 2008, the MoF planned to issue T-bills for AZN 1.2 bn, but issued T-bills in the amount of AZN 385 million or 32.08% of this volume. At the same time the Ministry raised AZN 317.495 million or 82.47% of the volume set out for bids.

In 2007, the Ministry issued T-bills in the amount of AZN 280 million and planned to raise AZN 251 million or 93.9% of this volume. In fact it was placed T-bills for AZN 204.889 million or 77.9% of the set volume.

07.07.2010 09:28