The Ministry of Finance announced the winning of 7 bidders, 4 public and two private banks, and one bid submitted by clients in the second auction of government securities for the current year to subscribe to treasury bonds, as the volume of the allocated bonds amounted to 227.6 billion Syrian pounds, covering more than 75 percent of the target issuance volume.
The ministry indicated in a statement that SANA received a copy of it today that 9 bidders participated in the second auction of treasury bonds, which took place yesterday with a two-year term and with a target issuance scope of 300 billion pounds, by submitting 23 bids, as the bid coverage rate reached 85 percent of the target issuance volume, while The interest rate for the coupons that will be distributed on these bonds on a semi-annual basis is 8.41 percent of the nominal value of the bond, which amounts to two million Syrian pounds.
In a statement to SANA, the Director of Revenue at the Ministry of Finance, Anas Ali, explained that the results of this auction come within the framework of the updates to the advantages of government securities carried out by the Ministry of Finance, as it allowed treasury bonds subscribed to under this auction to trade on the Damascus Securities Exchange. It also allowed brokerage firms. Participation in auctions.
Ali pointed out that the ministry also allowed natural and legal individuals to participate by opening an account with any of the participating financial brokerage companies or with operating banks eligible for subscription, after authorizing the bank or financial brokerage company to subscribe to these bonds, indicating that the auction procedures were carried out in accordance with the procedural guide of Decree 60 For the year 2007 regulating the issuance of government securities in Syria.
The Central Bank of Syria also indicated in a similar statement that the qualified financial intermediation companies did not submit to participate in any bid during the auction, and the Central Bank did not submit a non-competitive offer. By the Ministry of Finance at the level of 227 billion and 600 million pounds.
And the Central indicated that the proposed interest rates in the banks’ offers during the auction ranged between 7 as a minimum and 17 as a maximum.