Demand for mortgage bonds exceeds supply by more than 13 times in Azerbaijan
Azerbaijan, Baku, June 3 / Trend /
Demand for bonds of the Azerbaijani Mortgage Fund (AMF) under the Central Bank, has exceeded supply by more than 13 times, AMF said on Thursday.
On Thursday, the auction of interest-bearing registered secured bonds of Azerbaijan Mortgage Fund (AMF) in amount of 3 million manat was conducted in Baku Stock Exchange (BSE).
The volume of submitted bids by 3 participators was 40.782 million manat at face value. The offering was fully placed at current price of 101.1333 percent.
The maturity date of bonds is Dec. 11, 2017.
The Central Bank of Azerbaijan is the initial organizer of bonds' placement.
AMF bond issue prospectus was registered by the State Securities Committee on November 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 and bonds worth 41 million have been sold so far.
Until now, the AMF has placed two emissions - secured mortgage bonds worth 55 million manat and unsecured bonds worth 75 million manat.
The official exchange rate is 0.7893 manat to $1 on June 3.