Mortgage bonds to be placed in Azerbaijan
Azerbaijan, Baku, July 1 / Trend /
From July 5, 2010 a regular part of the interest, paperless, unsecured bearer bonds of the Azerbaijan Mortgage Fund (AMF) to the amount of 5 million manat will be placed, the Baku Stock Exchange (BSE) said.
According to the issue prospectus, placement will be conducted by public subscription. Bonds will be available for auction at a price of 103.4555 percent.
The maturity date is December 11, 2019. In the event that demand exceeds supply, all applications will be provided in the proportional manner. The Central Bank of the Azerbaijan Republic will be the primary organizer of the placement.
Placement of the second issue of AMF bonds was launched February 1, 2010. Bonds worth 38 million manat have been placed.
Those who wish to purchase bonds can apply to broker-members of the BSE.
AMF Issue Prospectus was registered by the State Committee for Securities December 30, 2009.
The total emission is 75 million manat with an interest rate of 3.25 percent per annum. About 38 million manat have been placed.
On July 1, the official exchange rate is 0,8039 manat to $1.