Azerbaijan completes placement of 95 percent of mortgage bonds
Azerbaijan, Baku, Jan. 15. / Trend N. Ismayilova /
Baku Stock Exchange (BSE) completed placement of the next bulk of interest, registered, book-entry, secured bond of the
Azerbaijan Mortgage Fund (AMF), acting under the Central Bank of Azerbaijan, the AMF reported. The bonds were placed on the auction with current price
Four investors participated in the auction. Total number of applications presented to the auction exceeds offer twice (3 million manat) on nominal, totaling 6.995 million manat. Total bonds have been placed in the auction.
The maturity date is May 10, 2016.
The bonds have been placed beginning from June 16, 2009. So far bonds worth 52 million manat have been fully placed. The total amount of issue of secured bonds comprises 55 million manat with a nominal value of 1000 manat per each.
About 1,800 Azerbaijani citizens got mortgage loans worth 76 million manat via the Azerbaijani Mortgage Fund from June 1 - December 31, 2009.
The state budget envisaged 14 million manat in 2009 for social mortgage
Roughly 18 banks are authorized loan organizations of the Fund.