Orders for mortgage bonds exceeds offering by almost 11 times in Azerbaijan
Azerbaijan, Baku, March 1 / Trend N.Ismayilova /
On Feb. 28, 2011 the auction of interest-bearing registered secured bonds of Azerbaijan Mortgage Fund (AMF) operating under the Central Bank of Azerbaijan (CBA) in amount of 3 million was conducted in Baku Stock Exchange (BSE), the BSE reported.
The volume of submitted bid by 1 participator was 32. 872 milion manat at face value. The offering was fully placed at current price of 100.3500%.
The maturity date is Dec. 11, 2017. In case the orders exceed offering, all of the orders will be filled proportionally. The CBA is the initial organizer of bonds' placement.
AMF bond issue prospectus was registered by the State Securities Committee on Nov. 19, 2010.
The placement is carried out from the third issue of registered book-entry bonds registered in the amount of 60 million manat with an interest rate of three percent per annum and a nominal value of 1,000 manat each. The placement of this issue started from Jan.17.
Until now, the AMF has placed two emissions - secured mortgage bonds worth 55 million manat and unsecured bonds worth 75 million manat.