First auction on placement of Azerbaijan Mortgage Fund’s bonds held

Business Materials 16 June 2009 20:54 (UTC +04:00)

Azerbaijan, Baku, June 16 / Trend /

On June 16 the placement of interest-bearing registered secured bonds of Azerbaijan Mortgage Fund started on Baku Stock Exchange. Initial amount of the offering was AZN 15,000,000.

The total amount of orders submitted by 8 investors made AZN 21, 991,000.

As a result, the whole volume of bonds put up for auction was placed.

The State Committee for Securities registered the issue prospectus on May 29, 2009. The total volume of offering is 55,000,000 AZN, face value of each bond is 1,000 AZN and the coupon rate is 3%. The maturity date is May 10, 2016.

The prospectus of the placement can be found in "Issuers" section of Baku Stock Exchange's web-site.

Official rate on June 16 is 0.8039 AZN/USD.