Azerbaijan CB Allowed Rise of Notes Yield
OREANDA-NEWS. October 19, 2011. The Central Bank of Azerbaijan (CBA) has placed today the 41st issue of short-term notes for 2011 with series 50104130S at the Baku Stock Exchange (BSE) by 27.523% of the announced volume. At that, yield of notes rose from 54.095% to 56% of CBA accounting rate that has made up 5.25% per annum since 6 May.
The BSE informs that on 19 October the three investors submitted the orders for AZN 5.504 million on par value or 27.523% of announced volume (AZN 20 million) and 55.046% of really set issue of notes for the auction (AZN 10 million).
The orders were submitted at the price of 99.78% (claim for annual yield of 2.83%) and 99.772% (2.94%).
Under CBA’s decision, cut-off price made up 99.772% (2.94%) and weighted average price 99.7769% (2.87%). As a result, the issue was placed for AZN 5.504 million or by 27.523% of the announced volume. Maturity date of the issue with 28-day circulation term is 16 November 2011.
Compared to the previous successful auction, yield on cut-off price increased by 0.1% from 2.84% to 2.94% and on weighted average price by 0.07% from 2.8% to 2.87%.
In 2011, increase of yield on cut-off price is still 0.87 points and on average weighted price the decline is 0.64 points. In 2005-11 the general decrease of yield on cut-off price still makes up 0.67 points and on weighted average price 2.22%.
The CBA registered an issue of notes of AZN 2 bn for 2011. It has been announced of placement of 41 issues of notes for AZN 977 million, set notes for AZN 652 million for auctions and raised AZN 557.204 million on par value or 27.86% of the issue announced for 2011.
In 2010, the CBA registered the issue of notes for AZN 300 million at face value, but announced about placement of 51 issues for AZN 311 million, really put up for sale the notes for AZN 265 million and raised AZN 242.79 million or 78.07% of the announced volume.
In 2009, the CBA registered issue of notes in the amount of AZN 5 bn, announced on placement of 51 issues for AZN 579 million (11.58% of planned issue), put really up for sale notes for AZN 363 million at face value (7.26% of the year target) and raised AZN 286.2 million at face value.
In 2008, the CBA planned issue of its notes for AZN 5 bn through sale of 52 issues for AZN 2.49 bn (49.81% of the planned issue). Of them CBA put up for sale the notes for AZN 1.845 bn at face value (36.91% of the 2008 target) and raised AZN 1.616 bn at face value.
In 2007, the CBA planned issue of its notes for AZN 3 bn and raised AZN 1.845 bn through sale of 61 issues.
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