Azerbaijan launches initial placing of mortgage fund's bonds

Business Materials 16 June 2009 13:13 (UTC +04:00)
Azerbaijan launches initial placing of mortgage fund's bonds

Azerbaijan, Baku, June 16 / Trend , U.Ismayilova/

On June 16, Azerbaijan launches initial placement of percentage nominal bonds of the Azerbaijan Mortgage Fund (AMF) under the Central Bank worth 15 million manat.

Sale price of the bonds at the date of the placement will be 100 percent of nominal, which amounts to 1,000 manats. Those who wish to purchase the bonds may turn to brokers - members of the Baku Stock Exchange.

Date of paying off the bond is set at May 10, 2016. If demand hits offers, all applications will be provided at proportionately order. The Central Bank of Azerbaijan plays the role of the primary organizer of placing bonds.

The State Committee on Securities registered emission of bonds on May 29 in 2009.

The total amount of emissions is 55 million manats with interest rate of 3 percent a year.

The AMF resumed mortgage loaning on June 1. The Fund suspended mortgage loaning in the summer of 2007 due to lack of funds.

On June 16, the official exchange rate is 0.8039 manat to $1.

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