Baku, Fineko/abc.az. At the expense of placement of this year’s 76th issue of T-bills (state short-term bonds) through the Baku Stock Exchange (BSE) the Ministry of Finance of Azerbaijan has raised AZN 9 million.

Simultaneously profitability difference of the issues placed in different circulation periods declined from 1.74% to 1.26%. Maximum difference in 2009 reached 6.09%.

BSE reports that on 23 October three bidders submitted the orders in the amount of AZN 9.036 million to buy 60.244% of the announced issue with state registration number 10207622S (AZN 15 million).

The orders were submitted at the price from 99.57% at face value (claim for profitability 1.73%) and 99.58% (1.69%).

Under Finance Ministry’s decision, the orders were satisfied at the cut-off price of 99.57% (1.73%), and the weighted average price conformed to it.

As a result, the issue was placed in the amount of AZN 9.036 million. The maturity date of the T-bills issue with circulation period of 91 days is 22 January 2009.

As a result, the size for which the profitability of T-bills with circulation period of less than one year claims for is lagging from the profitability of T-bills with circulation period of around one year decreased to 1.26%.

Profitability of T-bills with circulation period of less than one year on cut-off price rose from 1.25% up to 1.73% as well as on weighted average price. During this year’s auctions decline of profitability on the cut-off price totals 2.64% and on weighted average price 3.13%. In 2008-9 decline of profitability makes 7.27% and 6.14% respectively.

As for the issue with circulation period of around one year, which was not placed on 23 October, its profitability on cut-off price remained at the level of 2.99% as well as on weighted average price.

During this year’s auctions fall of profitability of such bonds on the cut-off price totaled 3.63% and at weighted average price 3.53%. In 2008-2009, decline was registered on these indicators by 8.43 points and 8.71 points respectively.

In 2009, the Ministry of Finance is planning to issue T-bills in the amount of AZN 1.1 bn and has already issued T-bills in the amount of AZN 873 million or 79.36% of this volume.

At the same time the issues were placed for AZN 381.49 million or 43.7% of the volume set out for bids.

In 2009 it was not conducted placement of the T-Bills issue with registration number 10201122S in the amount of AZN 15 million for 91-day period and issues planned for placement on 3 March - 10101422S in the amount of AZN 18 million for 35-day term, 10201522S in the amount of AZN 18 million for 91-day term, 10501622S in the amount of AZN 3 million for 364-day term, 10501920S in the amount of AZN 2 million for 364-day term, 10302122S in the amount of AZN 8 million for 182-day term, 10202422S in the amount of AZN 18 million for 91-day term, 10503522S in the amount of AZN 2 million for 364-day term, 10103422S in the amount of AZN 20 million for 35-day term, 10503922S in the amount of AZN 3 million for 364-day term, 10504322S in the amount of AZN 2 million for 365-day term, 10204822S in the amount of AZN 20 million for 91-day term, 10105022S in the amount of AZN 20 million for 35-day term,  10505922S in the amount of AZN 2 million for 364-day term and 10506322S in the amount of AZN 3 million for 364-day term, 10506722S in the amount of AZN 2 million for  364-day term, 10507122S in the amount of AZN 3 million for 364-day term, and 10307322S in the amount of AZN 7 million for 182-day term and 10507522S in the amount of AZN 2 million for 364-day term.

In 2009, the Ministry of Finance also plans to issue state medium-term bonds (T-notes) for AZN 0.1 bn – by AZN 50 million with circulation period of two and three years. Four issues of T-notes have been issued with 2-year circulation period for AZN 8 million. Issue of T-notes with 3-year circulation period has started since April.

In 2008 the Ministry of Finance was planning to issue T-bills in the amount of 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.

24.10.2009 08:56