An auction for placement of short-term state bonds worth 25 million manat ($14.7 million) of Azerbaijan’s Ministry of Finance was held at Baku Stock Exchange (BSE) on Nov. 19, Trend reports referring to BSE.

The maturity period of the bonds is 364 days.

During the auction, 13 investors submitted 23 bids in the price range from 91.7 manat ($54) with a yield of 9 percent to 94.3 manat ($55.5, with a yield of 6 percent).

According to the Finance Ministry’s decision, the cut-off price of bonds amounted to 94.3 manat ($55.5, or 6 percent) while the weighted average price was 94.3 manat ($55.5, or 6 percent).

The total volume of the placed orders reached 125 million manat ($73.6 million) at a nominal price, and the placement volume – 25 million manat ($14.7 million).

The deadline for the payment on bonds is Nov. 17, 2020.