Demand for mortgage bonds exceeds by 7 times in Azerbaijan

Photo: Demand for mortgage bonds exceeds by 7 times in Azerbaijan / Economy news

Azerbaijan, Baku, Dec. 29 / Trend /

The Azerbaijani Mortgage Fund (AMF) under the Central Bank placed the first part of interest-bearing book-entry, secured, registered bonds from the sixth emission on Friday, the fund said on Friday. The bonds worth 3 million manat were put up for auction. The demand exceeded supply by 6.9 times.

The applications were submitted by two investors to the amount of 20.988 million manat.
A selling price of the bonds was 100 percent of face value.

The Mortgage Fund registered emission of secured bonds worth 40 million manat with par value of 1,000 manat in the Azerbaijani State Securities Committee on December 21.

The period of the bonds is 10 years with an annual interest rate of three percent.

The official exchange rate is 0,7850 AZN/USD on Dec. 29.

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