Yield of Medium-Term Government Bonds Falls by 2.3%
2017 October 25 ( Wednesday ) 13:53:21
Baku / 25.10.17 / Turan: At the auction held on October 24 on placement of government bonds with a maturity of two years, the average weighted yield was 9.07% per annum. This is 2.3% less than in August of this year (11.37%), the Baku Stock Exchange reports.
Six investors took part at the auction. Some of them counted even on the yield at the level of 15% per annum. However, the Ministry of Finance agreed on the yield on debt securities at a maximum of 9.9%. The supply totaled AZN 5 million, and the demand was AZN 13.1 million.
This year, the Ministry of Finance issued medium-term bonds worth AZN 100 million to cover the state budget deficit. In general, the total volume of short-term (up to 1 year) and medium-term (up to 728 days) bonds is 700 million manat. In 2018, the government intends to issue government bonds in the same amount. ----08D