Demand for mortgage bonds in Azerbaijan exceeds supply by almost 6.6 times

Photo: Demand for mortgage bonds in Azerbaijan exceeds supply by almost 6.6 times / Economy news

Azerbaijan, Baku, Jan. 22 / Trend /

The Azerbaijani Mortgage Fund (AMF) under the Central Bank has placed the third part of the sixth issue secured interest bearing book-entry registered bonds, the Baku Stock Exchange (BSE) said on Tuesday. Bonds worth five million manat were put up for auction, but demand exceeded supply by 6.58 times.

Applications were principally made by two investors to the amount of 32.92 million manat. The applications were made at the price of 100 which is 2000 per cent of face value. The bond circulation period is November 6, 2022.

Mortgage Fund registered secured bonds worth 40 million manat with a par value of 1000 manat in the Azerbaijani State Securities Committee on December 21. The bonds of this issue worth 11 million manat were placed.

The bond circulation period is 10 years with an annual interest rate of three per cent.

The official exchange rate is 0,7848 AZN/USD on Jan. 22.

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