Azerbaijani mortgage fund's bonds released from commissions

Business Materials 2 June 2009 14:33 (UTC +04:00)

Azerbaijan, Baku, June 2 / Trend /

On June 1, the Management Board of the Baku Stock Exchange (BSE) held its meeting. The purpose of the meeting was to discuss the ways to support newly originated mortgage bonds issues backed by Azerbaijan Mortgage Fund, the BSE said.

In order to support the development of mortgage bonds market, the Board decided to waive the issuers commissions for the placement of the above-mentioned instrument.

The Mortgage Bonds' Prospectus was registered on May 29, 2009. There were 55,000 bonds with a nominal value of 1,000 manats each. The placement of the bonds will be conducted at Baku Stock Exchange.

The AMF's 17 authorized banks, 7 appraisal companies and 10 insurers have been determined due to launching mortgage loaning.

On June 2, the official exchange rate is 0.8035 manat to $1.

Do you have any feedback? Contact our journalist at: [email protected]